Ola to set up world’s largest factory in Tamil Nadu: All you need to know

Ola Chairman and Group CEO Bhavish Aggarwal said that the factory will be one of the most advanced manufacturing facilities in the world.

Ola on Monday said it has signed an agreement with the Tamil Nadu government to set up its first electric scooter factory worth ₹2,400 crore in the state.

File photo of an e-scooter from Etergo, an Amsterdam-based company that has been acquired by Ola.

“In line with Prime Minister Narendra Modi’s vision, Ola’s factory is an important step in making an Atmanirbhar Bharat. It 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,” a statement issued by the ride-hailing platform read.

Here is all you need to know about the factory:

- The factory will create nearly 10,000 jobs and will be the world’s largest scooter manufacturing facility upon completion, reported news agency PTI. The facility will initially have an annual capacity of 2 million units.

- The new manufacturing plant is scheduled to be operational in a year.

- Ola said India well placed to be a global hub for cutting edge manufacturing of electric vehicle (EVs).

- The factory will be one of the most advanced manufacturing facilities in the world, Ola Chairman and Group CEO Bhavish Aggarwal said.

- The plant will cater to customers in markets around the world including Europe, Asia and Latin America.

- Ola Electric - the EV arm of Ola - has raised about USD 400 million in funding from Tiger Global, Matrix India, Tata Sons Chairman Emeritus Ratan Tata and others, according to PTI.