Ola to invest Rs 2,400 cr for 'world's largest' e-scooter factory

Upon completion, the factory will create almost 10,000 jobs and will initially have an annual capacity of 2 million units

Ola said it aims to increase the number of bike-partners by three times to over one million by next year
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Ola's electric vehicles factory would pit it against two-wheeler makers Ather Energy, Hero Electric and TVS Motor Company.

Peerzada Abrar Bengaluru
Six months after it acquired the Dutch start-up Etergo B.V., Ola Electric has announced a Rs 2,400-crore ($320 million) investment plan to set up, what it calls, the ‘world’s largest’ electric scooter (e-scooter) manufacturing plant in Hosur, Tamil Nadu (TN).

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.

Upon completion, the factory will create almost 10,000 jobs. It will initially have an annual capacity of 2 million units.

"We are excited to announce our plans to set up the world’s largest scooter factory,”

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First Published: Dec 14 2020 | 12:54 PM IST

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