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Ola signs MOU with Govt. of TN to setup world’s largest scooter factory

The Bengaluru-based unicorn, Ola announced that Ola Electric had signed a memorandum of understanding with the Tamil Nadu government for an investment of Rs 2,400 crore to set up one of the largest scooter factories in the world. Ola says new plant is a milestone towards an Aatmanirbhar Bharat, in line with the vision of Prime Minister Narendra Modi.

The announcement comes as the company gets ready to launch the first of its lineup of electric scooters in the coming months. The Tamil Nadu plant will reach customers not only in India but also all over the world, including Europe, Asia, Latin America and more. The plant will create over 10,000 jobs and have a capacity of two million units per year.

Earlier this year, Ola announced its intention to hire over 2,000 people in its electricity sector as it builds a suite of smart and electric urban mobility solutions for consumers worldwide. Ola said the scooter has a gorgeous and seamless design, a removable banana battery which is easy to carry and can be loaded anywhere as well as “smart” software designed to elevate the consumer experience of owning a scooter. Ola plans to bring numerous design and software innovations to its entire range of dual-wheeled products in the coming months.

Bhavish Aggarwal, Chairman and Group CEO, Ola, said “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.”

Recently, the company also called on General Motors veteran Jose Pinheiro to lead the company's global manufacturing and operations.