December 14, 2020: With an aim to make India a manufacturing hub for electric vehicles, Ola, one of the world’s leading mobility platforms, today 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. It will catalyze 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.
The factory will also galvanize India’s electric vehicle (EV) ecosystem and establish India as a key player in the EV manufacturing space. Ola believes that India with its unique skill-sets, manpower and demography is well placed to be a global hub for the cutting edge manufacturing of EVs.
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.
Bhavish Aggarwal, Chairman and Group CEO, Ola, said, ‘‘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. This will be one of the most advanced manufacturing facilities in the world. This factory will showcase India’s skill and talent to produce world class products that will cater to global markets.”
The new manufacturing plant aligns with Ola’s global vision to move mobility into a more sustainable, accessible and connected future.
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 Marketing Innovation award at CES and the German Design Award. It features many firsts including a beautiful and seamless design, 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.
Ola is India’s largest mobility platform and one of the world’s largest ride-hailing companies, serving 250+ cities across India, Australia, New Zealand, and the UK including key global markets like London and Sydney. The Ola app offers mobility solutions by connecting customers to drivers and a wide range of vehicles across bikes, auto-rickshaws, metered taxis, and cabs, enabling convenience and transparency for hundreds of millions of consumers and over 2.5 million driver-partners.
Ola’s core mobility offering in India is supplemented by its electric-vehicle arm, Ola Electric and Ola Fleet Technologies, India’s largest fleet management business. Ola also extends its consumer offerings like micro-insurance and credit led payments through Ola Financial Services and a range of owned food brands with India’s largest network of cloud kitchens through Ola Foods. With strategic acquisitions like Ridlr, India’s largest public transportation platform and Amsterdam-based Electric two-wheeler OEM- Etergo BV, Ola is building mobility solutions for the future.