Ola to Invest Rs 2,400 Cr to Set up World’s Largest 2W EV Manufacturing Facility in India

Post completion, the factory is expected to provide around 10,000 jobs and will be the world’s largest scooter manufacturing facility, which will initially have an annual capacity of 2 million units.

December 15, 2020. By Manu Tayal

With an aim to make India a manufacturing hub for electric vehicles (EVs), mobility platform Ola have entered into a Memorandum of Understanding (MoU) with the Government of Tamil Nadu to set up its first electric scooter manufacturing facility in the state with an investment of about Rs 2,400 crore.

Commenting on the development, Bhavish Aggarwal, Chairman and Group CEO, Ola, said that, “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.”

Post completion, the factory is expected to provide around 10,000 jobs and will be the world’s largest scooter manufacturing facility, which will initially have an annual capacity of 2 million units.

It will catalyze reduction of India’s import dependence in a key future sector like EVs, boost local manufacturing, create jobs as well as improve the technical expertise in the country.

The factory will also galvanize India’s EV ecosystem and establish India as a key player in the EV manufacturing space. Ola believes that India with its unique skill-sets, manpower and demography is well placed to be a global hub for the cutting edge manufacturing of EVs.

Ola’s factory will cater to customers not only in India but in markets around the world including Europe, Asia, Latin America, and more. The company has already geared up to launch the first of its range of highly anticipated electric scooters in the coming months.

Meanwhile, the new manufacturing plant will produce the company’s upcoming range of two wheeler products starting with it’s electric scooter.

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