Ola to set up world’s largest electric vehicle factory in Tamil Nadu
Ola has signed an agreement with the Tamil Nadu government to set up its first electric scooter factory worth Rs 2,400 crore in the state. The company said it is an important step in making an Atmanirbhar Bharat. It reduces India’s import dependence in electric vehicles, boosts local manufacturing, create jobs as well as improve the technical expertise in the country. The factory will create 10,000 jobs and will be the world’s largest scooter manufacturing facility upon completion.The manufacture will start in a year. It can produce up to 2 million units per year. The factory will be one of the most advanced manufacturing facilities in the world, said Bhavish Aggarwal group CEO and chairman, Ola. The customers include Europe, Asia and, Latin America. Ola Electric the EV arm of Ola has raised about USD 400 million in funding from Tiger Global, Matrix India, Tata Sons Chairman Emeritus Ratan Tata, and others.
