Ola Will Set Up World’s Largest Scooter Factory: Create 10,000 Jobs Via Rs 2400 Cr Investment
Indian ridesharing services company, Ola, plans to set up the world’s largest scooter manufacturing facility. The company has already announced that an MoU has been signed with the Government of Tamil Nadu.
Read on to find out all the details!
Ola To Set Up World’s Largest Scooter Manufacturing Facility In Tamil Nadu
Ola has plans to invest as much as $327 million to set up the “world’s largest scooter manufacturing facility” in Tamil Nadu. Along with this, the company has also assured the creation of almost 10,000 jobs and a capacity of producing 2 million electric vehicles in a year.
In a statement issued by Ola, Bhavish Aggarwal, Chairman and Group CEO of Ola, says, “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.”
He has also said that the upcoming facility will be one of India’s most advanced manufacturing facilities in the world. It will also manufacture world class products and provide for the global markets by showcasing the skills and talents of India.
Ola To Compete With Ather Energy, Hero Electric, and TVS Motor Company
The company also aims to enhance India’s electric vehicle ecosystem and cater to the international customer base from countries such as Europe, Asia, and Latin American among others. The company is now prepping to launch the first of its range of electric scooters in the next few months.
With these plans, Ola will now directly compete against some other popular electric two wheeler makers such as Ather Energy, Hero Electric, and TVS Motor Company.
Given the vision of Ola for building and providing electric and smart urban mobility solutions for customers, Ola had also revealed its plans to hire 2000 people for its electric vehicle business
Ola also has plans to launch and expand its two wheeler electric vehicles in multiple markets in the upcoming two quarters. Ola Electric, which was launched last year, has also recently acquired Amsterdam-based Etergo.