Ola’s electric scooter

  New Delhi: Softbank-backed Ola on Monday announced that it has signed a memorandum of understanding (MoU) with the Tamil Nadu government to set up what it claims to be the 'world's largest scooter manufacturing facility' in the state. The ride-hailing firm will invest about USD 327 million (INR 2,400 Crore) in setting up the factory which would result in the creation of almost 10,000 jobs. The factory will have an initial production capacity of 2 million electric vehicles per annum and will produce Ola’s upcoming range of two-wheeler products starting with Ola’s electric scooter. “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," said  Bhavish Aggarwal , Chairman and Group CEO of Ola, in a statement. Ola plans to launch a...