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Ola to invest Rs 2,400 Crore for electric two-wheeler factory

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20201215022519 Ola Tamil nadu manufacturing facility Ola to invest Rs 2,400 Crore for electric two-wheeler factory

After a sequence of appointments for its newly created electric two-wheeler manufacturing division, Ola has lastly introduced the placement for its first manufacturing facility in India. 

  • The factory is predicted to create 10,000 jobs

  • It may have an annual capability of two million items

  • The manufacturing facility will cater to exports as effectively

The firm has inked an MoU with the Tamil Nadu authorities for an funding of Rs 2,400 crore for establishing its first factory within the state.

Ola’s scooter manufacturing facility

Ola claims upon completion, the factory will create virtually 10,000 jobs and would be the world’s largest scooter manufacturing facility, which can initially have an annual capability of two million items. The firm says it goals to catalyse discount of India’s import dependence in a key future sector like electric automobiles, enhance native manufacturing, create jobs in addition to enhance the technical experience within the nation.

The manufacturing facility will cater to prospects not solely in India however in markets around the globe together with Europe, Asia, Latin America, and extra. It is gearing up to launch the primary of its vary of extremely anticipated electric scooters within the coming months.

Bhavish Aggarwal, chairman and Group CEO, Ola mentioned, ‘‘We are excited to announce our plans to set up the world’s largest scooter factory. This is a major milestone for Ola and a proud second for our nation as we quickly progress in the direction of realising our imaginative and prescient of shifting the world to sustainable mobility options throughout shared and owned mobility. This will probably be one of the superior manufacturing amenities on the earth. This factory will showcase India’s ability and expertise to produce world class merchandise that may cater to international markets.”

Ola and the Etergo AppScooter

The facility will produce Ola’s upcoming vary of two-wheeler merchandise beginning with the Etergo AppScooter, which the corporate acquired in early May. The AppScooter has gained a number of design and innovation awards around the globe together with Marketing Innovation award at CES and the German Design Award. It options many firsts together with a good looking and seamless design, distinctive detachable banana battery that’s straightforward to carry and might be charged wherever in addition to clever software program that elevates the complete client expertise of proudly owning a scooter. Ola plans to carry many such design and software program improvements to its total product line of two wheelers as they arrive to market within the coming months.

Earlier this yr Ola introduced plans to rent over 2,000 folks for its electric enterprise because it quickly builds a set of electric and good city mobility options for customers around the globe. Recently, the corporate additionally roped in General Motor Veteran, Jose Pinheiro to head its international manufacturing and operations. The firm has additionally appointed Julien Geggard to lead its European operations.

Also see:

Ola expands medical transportation service to 15 cities in India

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