HomeBUSINESSOla to invest Rs 2,400 cr for 'world's largest' e-scooter factory

Ola to invest Rs 2,400 cr for ‘world’s largest’ e-scooter factory

Ola said on 14th December, Monday that it planned to invest an amount of Rs 2,400 crore to set up a factory for electronic scooters in the area of Tamil Nadu and that would help to be adding it to be world’s largest. The SoftBank-backed company targets to make our country India as a manufacturing hub for the electric vehicles. Ola told that it has signed a memorandum of understanding with the government of Tamil Nadu for this facility. After the completion, the factory will create almost 10,000 jobs for the people. Ola a famous company we all know about will now be the world’s largest scooter manufacturing company which will initially have an annual capacity of around 2 million units.

Bhavish Aggarwal who is the chairman and group CEO of that company said that they are excited to announce their plans to set up the world’s largest scooter factory. They said that this will be a significant milestone for their company and also a proud moment for our country as we rapidly progress towards realising our vision of moving the world to sustainable mobility solutions. He also said that this will be one of the most advanced manufacturing facilities in the whole world. This factory that the company will showcase India’s skill and talent and will help to produce world-class products and that later will cater to global markets.

The company said that in line with our Prime Minister Narendra Modi’s vision and supporting him, Ola’s upcoming factory is an important step towards making an ‘atmanirbhar’ Bharat. It will help in the reduction of India’s import dependence in a key future sector like electric vehicles, boost local manufacturing, create jobs and also improve the technical expertise in our country.

Ola to invest Rs 2,400 cr for 'world's largest' e-scooter factory
Ola to invest Rs 2,400 cr for ‘world’s largest’ e-scooter factory

The factory will also help to galvanise India’s electric vehicle ecosystem. It will establish India as a main player in the Electric vehicle manufacturing space. Ola believes that India with its all unique skill-sets, the manpower and demography is being well placed to be a global hub for the manufacturing of the electronic vehicles.

Ola’s factory will cater to the customers not only from India, but also in the markets of other countries around the world. The company is levelling up and is now about to launch the first of its range of highly expected and awaited electric scooters in the coming months. The new manufacturing plant is in line with Ola’s global vision to help move mobility into a more sustainable, accessible and also the connected future.

The factory will help manufacture Ola’s upcoming range of two-wheeler products. The company will be starting with Ola’s electric scooter. It has already received several prestigious design and innovation awards around the world. It includes Marketing Innovation award and the German Design Award. It features a design which is a unique removable banana battery which is easy to carry and can be charged anywhere. The company plans to bring many such design and software innovations to its entire product line of two-wheelers as they start coming to market in the coming months.

This year Ola revealed it’s plans to hire over 2,000 people for its electric business as it  builds a suite of electric and smart urban solutions for consumers around the world.

Ola will also bring its electric two-wheeler products to the New Zealand country. The company will also help and support the New Zealand government. It will help for their goal of on-roading 64,000 new electric vehicles by the end of the year 2021. While it will also be helping the public sector to become carbon neutral by the year 2025.

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