Ola has signed a Memorandum of Understanding with the Tamil Nadu government for an investment of Rs 2,400 crore for setting up its first factory in the state.The project is expected to created almost 10,000 jobs and will and will initially have an annual capacity of 2 million units.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," he added.
The proposed factory will produce Ola's upcoming range of two-wheeler products starting with Ola's electric scooter which has already won several prestigious design and innovation awards around the world including Marketing Innovation award at CES and the German Design Award.Ola claims that its factory will galvanize India's electric vehicle ecosystem and establish India as a key player in the EV manufacturing space.Ola's factory in Tamil Nadu 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.
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