Ola Signs MoU with TN Govt to Establish World's Largest Scooter Manufacturing Facility


Ola Signs MoU with TN Govt to Establish World's Largest Scooter Manufacturing Facility

Ola, the leading mobility platform has signed a Memorandum of Understanding (MoU) with the Tamil Nadu government to invest INR 2400 crores towards setting up its maiden EV manufacturing facility in the state. An official statement released by the company stated that 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 two million units. Setting up of the factory will allow Ola to cater to domestic as well as international clients from Europe, Asia, Latin America and more.

The company is gearing up to launch the first of its range of two wheeler products starting with Ola’s electric scooter in the months to come. The EV will feature seamless design, removable banana battery that is easy to carry and can be charged anywhere as well as intelligent software.

The cab hailing giant that serves over 250 cities across India, Australia, New Zealand, and the UK including key global markets like London and Sydney has been keen on broadening its service capabilities for some time now. Keeping in line with this vision the company had launched Ola Electric in 2017. The subsidiary is now part of the coveted unicorn club and has been backed by the likes of Tiger Global, Matrix Partners and SoftBank.

The launch of the new factory is also a strong step in the direction of creating an AtmaNirbhar Bharat since it will reduce India’s import dependence in a key future sector like electric vehicles. The statement mentioned that the factory will also galvanize India’s electric vehicle (EV) ecosystem and establish India as a key player in the EV manufacturing space.

Speaking on the announcement Bhavish Aggarwal, Chairman & Group CEO, 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 realizing 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”.