All you should know about Ola’s largest factory in the world being set up in Tamil Nadu
Chennai, Dec 15: Ola said that it had signed an agreement with the Tamil Nadu government to set up its first electric scooter factory worth Rs 2,400 crore in the state.
A statement issued by the platform said, in line with Prime Minister Narendra Modi's vision, Ola's factory is an important step in making an Atmanirbhar Bharat. It will catalyse reduction of India's import dependence in a key future sector like electric vehicles, boost local manufacturing, create jobs as well as improve the technical expertise in the country.
All about the Ola factory in Tamil Nadu:
News agency PTI said that the factory will create nearly 10,000 jobs and will be the world's largest scooter manufacturing facility upon completion. Initially, the factory will have an annual capacity of 2 million units.
The new plant will be operational in a year.
The factory will be one of the most advanced manufacturing facilities in the world.
India is well placed to be a global hub for cutting edge manufacturing of electric vehicles, Ola said.
Ola Electric-the EV arm of Ola raised around USD 400 million in funding from Tiger Global, Matrix India, Tata Sons Chairman Emeritus Ratan Tata and others.
The plant will cater to customers around the world including Europe, Asia and Latin America.