Ola invests Rs 2400 crore to launch world’s largest electric scooter factory in Tamil Nadu

Chennai : Ola will set up its first electric scooter factory in the state of Tamil Nadu. The company has decided to invest Rs 2400 crore for this. Ola has signed an agreement with the Tamil Nadu state government in this regard. Ola’s investment will create 10,000 new jobs.

According to Ola, the factory will be the largest electric scooter factory in the world. Initially, the company will manufacture 20 lakh scooters a year. This capacity will be increased later.

“Through this investment, Ola is trying to contribute to Prime Minister Narendra Modi’s dream of a self-reliant India,” the statement said. This will help reduce India’s imports of electric vehicles. The investment will also boost local production and create thousands of new jobs. Ola factory is expected to be ready within the next year.

Although Ola’s electric scooter will be manufactured in India, it will be sold to India, Europe, Asia, Latin America and many other countries around the world, Ola said. Ola’s first scooter is expected to hit the Indian market in January 2022. In May this year, Ola bought Etergo BV from Amsterdam. At that time, Ola had planned to launch an electric two-wheeler in the Indian market by 2021.