CHENNAI: Shared mobility platform Ola has announced plans to set up the world's largest scooter factory in Tamil Nadu. It has signed an MoU with the Tamil Nadu government with investment of Rs 2,400 crore. The factory will create nearly 10,000 jobs.
It will initially have an annual capacity of two million units.
“The factory 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," the company said in a statement.
It will also galvanize India’s electric vehicle (EV) ecosystem and establish India as a key player in the EV manufacturing space. "Ola’s factory will cater to customers not only in India but in markets around the world including Europe, Asia, Latin America, and more and the company is gearing up to launch the first of its range of highly anticipated electric scooters in the coming months," the statement said.
Bhavish Aggarwal, chairman and group CEO, Ola, said, ‘‘We are excited to announce our plans to set up the world’s largest scooter factory. 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.”
The factory will produce Ola’s upcoming range of two-wheeler products starting with Ola’s electric scooter. "Ola plans to bring many such design and software innovations to its entire product line of two-wheelers as they come to market in the coming months," said the statement.
Earlier this year, Ola announced plans to hire more than 2,000 people for its electric business. Recently, the company roped in General Motor veteran Jose Pinheiro to head its global manufacturing and operations.