Chennai: Ride-hailing company Ola said on Monday that it will make an investment of Rs 2,400 crore for establishing the “world’s largest” scooter factory in Tamil Nadu.
The Bengaluru-headquartered organization said it inked a memorandum of understanding (MoU) with the Tamil Nadu government for setting up the factory which is in accordance with the firm’s target to make India a manufacturing hub for electric vehicles.
Upon completion, the plant will make nearly 10,000 jobs and will be the world’s largest scooter manufacturing factory, which will at first have an annual capacity of 2,000,000 units, Ola said.
The declaration comes as the organization is getting ready to launch the first of its range of electric scooters in the following months.
The Tamil Nadu factory will provide for the customers not only in India but in markets around the globe including Asia, Latin America, Europe and more.
Bhavish Aggarwal, Chairman and Group CEO, Ola, said in a statement, “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 factory will produce Ola’s forthcoming range of two-wheeler products beginning with Ola’s electric scooter.
Ola said that it includes a beautiful and seamless design, a removable banana battery that is anything but difficult to carry and can be charged anyplace as well as “intelligent” software intended to elevate the consumer experience of possessing a scooter.
Earlier this year Ola declared plans to employ more than 2,000 individuals for its electric business as it builds a suite of electric and smart urban portability mobility for customers around the globe.
As of late, the organization additionally roped in General Motors veteran Jose Pinheiro to head its global manufacturing and operations.