The Indian ridesharing company, Ola has signed an MoU with the Tamil Nadu government for an investment of ₹2,400 crores to set up the world’s largest electric scooter factory in the state.
The project is in line with Prime Minister Narendra Modi’s vision of AtmaNirbhar Bharat (Self-reliant India).
Upon completion, the factory will create almost 10,000 jobs. The manufacturing facility will initially have an annual capacity of two million units. The first range of e-scooters is expected to be launched in the coming months.
Ola’s e-scooter features a seamless design, a unique removable banana battery that is easy to carry and can be charged anywhere as well as intelligent software for an enhanced customer experience.
In addition to India, Ola’s factory will also cater to customers in markets around the world including Europe, Asia, and Latin America.
Bhavish Aggarwal, chairman, and Group chief executive officer, Ola, said:
‘‘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.”
