Ola announces plans to set up world’s largest scooter factory in Tamil Nadu!
- Signs MoU with the Government of Tamil Nadu with investment of 2400 cr
- Plant to create nearly 10000 jobs
National, December 14, 2020: With an aim to make India a manufacturing hub for electric vehicles, Ola, one of the world’s leading mobility platforms, today signed a MoU with the Tamil Nadu government for a Rs 2400-crore investment in setting up the world’s largest scooter manufacturing plant in Hosur. The MoU was signed in Chennai today in the presence of Tamil Nadu Chief Minister Edappadi Karuppa Palaniswami along with Minister of Industries, and Chief Secretaries.
Upon completion, the factory will create almost 10,000 jobs and will be the world’s largest scooter manufacturing facility, which will initially have an annual capacity of 2 million units. In line with Prime Minister Narendra Modi’s vision, Ola’s factory is an important step in making an Atma Nirbhar Bharat. It will catalyze 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 factory will also galvanize India’s electric vehicle (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, UK, New Zealand, and more. The company is gearing up to launch the first of its range of highly anticipated electric scooters in the coming months.
Bhavish Aggarwal, Chairman and Group CEO, Ola, said, ‘We would like to thank the state of Tamil Nadu and Honourable Chief Minister for extending their support and fostering a long cooperation that will help us to create value and play a pivotal role in enabling the paradigm shift to electric mobility. A manufacturing unit in Tamil Nadu is an ideal choice for us owing to the strategic location, conducive business environment, a favourable ecosystem and high-level of skill-sets in the state’.
He added, “This is an important development towards realising our vision of moving the world towards sustainable mobility solutions across shared and owned mobility. Furthermore, we are happy to make an investment of Rs 2400 cr in the Tamil Nadu state which will lead to job creation for many.”
The new manufacturing plant aligns with Ola’s global vision to move mobility into a more sustainable, accessible and connected future.
The factory will produce Ola’s upcoming range of two wheeler products starting with Ola’s electric scooter which has already won several prestigious design and innovation awards around the world including Marketing Innovation award at CES and the German Design Award. It features many firsts including a beautiful and seamless design, unique removable banana battery that is easy to carry and can be charged anywhere as well as intelligent software that elevates the entire consumer experience of owning a 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.
Earlier this year Ola announced plans to hire over 2,000 people for its electric business as it rapidly builds a suite of electric and smart urban mobility solutions for consumers around the world. Recently, the company also roped in General Motor Veteran Jose Pinheiro to head its global manufacturing and operations.
About Ola:
Ola is India’s largest mobility platform and one of the world’s largest ride-hailing companies, serving 250+ cities across India, Australia, New Zealand, and the UK including key global markets like London and Sydney. The Ola app offers mobility solutions by connecting customers to drivers and a wide range of vehicles across bikes, auto-rickshaws, metered taxis, and cabs, enabling convenience and transparency for hundreds of millions of consumers and over 2.5 million driver-partners.
Ola’s core mobility offering in India is supplemented by its electric-vehicle arm, Ola Electric and Ola Fleet Technologies, India’s largest fleet management business. Ola also extends its consumer offerings like micro-insurance and credit led payments through Ola Financial Services and a range of owned food brands with India’s largest network of cloud kitchens through Ola Foods. With strategic acquisitions like Ridlr, India’s largest public transportation platform and Amsterdam-based Electric two-wheeler OEM- Etergo BV, Ola is building mobility solutions for the future.
