Leading mobility platform, Ola has signed the Memorandum of Understanding (MoU) with the Tamil Nadu government for an investment of Rs 2,400 crores to set up its first electric scooter factory in the state.
In a statement issued on Monday, the Spokesperson of Ola said, “The factory will create almost 10,000 jobs and will be the world’s largest scooter manufacturing facility which will initially have an annual capacity of 2 million units.”
“In line with Prime Minister Narendra Modi‘s vision, This factory is an important step in making an AtmaNirbhar Bharat. It will catalyze the reduction of India’s import dependence in a key future sector like electric vehicles, boost local manufacturing, create jobs as well as improve the technical expertise in the country,” the statement said.
Speaking on the development, Bhavish Aggarwal, Chairman and Group CEO, Ola, said, ”We are excited to announce our plans to set up the world’s largest scooter factory. This is a significant milestone for Ola and a proud moment for our country as we rapidly progress towards realizing our vision of moving the world to sustainable mobility solutions across shared and owned mobility.”
“This will be one of the most advanced manufacturing facilities in the world. This factory will showcase India’s skill and talent to produce world-class products that will cater to global markets,” Bhavish said.
“The factory will also galvanize India’s electric vehicle (EV) ecosystem and establish India as a key player in the EV manufacturing space,” the statement said.
Adding to the statement, the spokesperson of Ola further said, “The new manufacturing plant aligns with Ola’s global vision to move mobility into a more sustainable, accessible, and connected future. This factory will cater to customers not only in India but in markets around the world including Europe, Asia, Latin America, and more. The company is gearing up to launch the first of its range of highly anticipated electric scooters in the coming months.”
Earlier this year Ola announced plans to hire over 2,000 people for its electric business as it rapidly builds a suite of electric and smart urban mobility solutions for consumers around the world.