Ola Electric Mobility has entered into an agreement with the government of Tamil Nadu to set up the world's largest electric vehicle manufacturing facility. The Memorandum of Understanding (MoU) for the same was signed between the Chief Minister of Tamil Nadu M K Stalin and Bhavish Aggarwal, CEO, Ola Electric at the Tamil Nadu Secretariat.
The manufacturing facility will be set up in Krishnagiri and Dharmapuri Districts of Tamil Nadu. Spread across 2,000 acres, this facility will manufacture electric two-wheelers, cars and battery cells, in addition to housing vendor and supplier parks.
To be constructed with an investment of Rs. 7,614 crores, the facility will be set up in two phases, with the first phase scheduled to be operational by 2022. The initial phase will have a production capacity of 2 million electric scooters per year, and the company expects to ramp up the production to 10 million units per year by 2025. The second phase will focus on the production of electric cars and battery storage solutions.
Follow