India: Ola announces plans to set up world’s largest scooter factory in Tamil Nadu
Signs MoU with the Government of Tamil Nadu with investment of Rs 2400 cr
Ola signed the MoU with the Tamil Nadu government for an investment of 2,400 crores in setting up its first factory in the state. 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 2 million units.
In line with Prime Minister Narendra Modi’s vision, Ola’s factory is an important step in making an AtmaNirbhar Bharat. The factory will also galvanize India’s electric vehicle (EV) ecosystem and establish India as a key player in the EV manufacturing space.
Ola’s factory will cater to customers not only in India but in markets around the world including Europe, Asia, Latin America, and more. The company is gearing up to launch the first of its range of highly anticipated electric scooters in the coming months.
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