The SoftBank-backed company is raring to launch the first of its range of highly anticipated e-scooters in the coming months. The new manufacturing plant will help take mobility into a more sustainable, accessible, and connected future.
December 15, 2020
Ola, one of the world’s leading mobility platforms, has signed MoU with the Tamil Nadu government for an INR 2400 crore investment to set up the world’s largest e-scooter manufacturing plant in Hosur.
According to the media reports, upon completion, the factory will create nearly 10,000 jobs and will be the world’s largest scooter manufacturing facility that will initially have an annual capacity of 2 million units.
The SoftBank-backed firm aims to make India a manufacturing hub for electric vehicles (EVs). Ola has signed a memorandum of understanding with the TN government for this facility.
Ola’s factory will serve customers not only in India but in markets the world over, including Europe, Asia, and Latin America.
The move has placed Ola in direct competition with legacy electric two-wheeler makers, such as Ather Energy, Hero Electric, and TVS Motor Company.
