CHENNAI: Ola, one of the world’s leading mobility platforms, on Monday signed an MoU with the Tamil Nadu government for a Rs 2400 crore investment for setting up the world’s largest scooter manufacturing plant in Hosur.
The project for which MoU which was signed in the presence of Tamil Nadu Chief Minister Edappadi Karuppa Palaniswami, 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.
Stating that the project is in line with Prime Minister Narendra Modi’s vision of making an Atma Nirbhar Bharat, Ola in a statement said the project will catalyze the 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.
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 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’.
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 the Marketing Innovation award at CES and the German Design Award.
The factory will feature many firsts including a beautiful and seamless design, a 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.