Ola to invest Rs 2,400 Crore for electric two-wheeler factory

    Earlier this year Ola announced plans to hire over 2,000 people for its electric business.

    Published On Dec 15, 2020 02:20:00 PM

    20,410 Views

    Ola to invest Rs 2,400 Crore for electric two-wheeler factory

    After a series of appointments for its newly created electric two-wheeler manufacturing division, Ola has finally announced the location for its first manufacturing facility in India. 

    The company has inked an MoU with the Tamil Nadu government for an investment of Rs 2,400 crore for setting up its first factory in the state.

    Ola’s scooter manufacturing facility

    Ola claims upon completion, 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. The company says it aims to catalyse 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 manufacturing facility will cater to customers not only in India but in markets around the world including Europe, Asia, Latin America, and more. It is gearing up to launch the first of its range of highly anticipated electric scooters in the coming months.

    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 realising 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.”

    Ola and the Etergo AppScooter

    The facility will produce Ola’s upcoming range of two-wheeler products starting with the Etergo AppScooter, which the company acquired in early May. The AppScooter has won several design and innovation awards around the world including Marketing Innovation award at CES and the German Design Award. It features many firsts including a beautiful and seamless design, unique removable banana battery that is easy to carry and can be charged anywhere as well as intelligent software that elevates the entire consumer experience of owning a scooter. Ola plans to bring many such design and software innovations to its entire product line of two wheelers as they come to market 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. Recently, the company also roped in General Motor Veteran, Jose Pinheiro to head its global manufacturing and operations. The company has also appointed Julien Geggard to lead its European operations.

    Also see:

    Ola expands medical transportation service to 15 cities in India

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