Ola 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.
He further added, "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 plans to launch an e-scooter simultaneously across India and several European markets by January next year.~
The new factory would also cater to customers in Europe, Asia, and Latin American among other markets, the company said in a statement.
Ola's transformation from cab-aggregator to EV player
Ola has been making rapid strides in the electric two-wheeler segment. In May this year, the company announced the acquisition of Etergo BV, an electric scooter OEM, based out of Amsterdam, the Netherlands to mark its entry into the premium electric two-wheeler market, both globally and nationally.
