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Ola to invest Rs 2,400 crore to set up e-scooter factory in Tamil Nadu

Upon completion, the factory will create nearly 10,000 jobs and will be the world’s largest scooter manufacturing facility, with an initial annual capacity of 2 million units, it said in a statement.

By: ENS Economic Bureau | New Delhi | December 15, 2020 3:21:16 am
Ola said the plant will help cut import dependence in a key sector like electric vehicles, boost manufacturing, create jobs and improve technical expertise in India.

Ride-hailing platform Ola said Monday it has inked an agreement with the Tamil Nadu government to invest Rs 2,400 crore for setting up its first electric scooter factory at Hosur in the state. Upon completion, the factory will create nearly 10,000 jobs and will be the world’s largest scooter manufacturing facility, with an initial annual capacity of 2 million units, it said in a statement.

“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 realising our vision of moving the world to sustainable mobility solutions across shared and owned mobility,” Ola chairman and group CEO Bhavish Aggarwal said.

Ola said the plant will help cut import dependence in a key sector like electric vehicles, boost manufacturing, create jobs and improve technical expertise in India.

Earlier this year, Ola had announced plans to hire over 2,000 people for its electric business. It also roped in General Motor veteran Jose Pinheiro to head its global manufacturing and operations for its electric business. —FE

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