World’s largest EV manufacturing hub in India: Ola Electric to invest Rs 7,600 Cr in Tamil Nadu
Ola Electric on Saturday announced that the company has signed a Memorandum of Understanding (MoU) with the Government of Tamil Nadu to set up an EV hub in the state, which will include advanced cell and electric vehicle manufacturing facilities, vendor & supplier parks, and an ancillary ecosystem for EVs at one single location.
Located in Krishnagiri and Dharmapuri districts of Tamil Nadu, Ola says that its upcoming EV hub will be the world’s largest EV facility at a single location, spread across approximately 2,000 acres. As per ET, who got in touch with a government official on this matter, Ola Electric will be investing about Rs 7,600 crore ($918 million) to set up the EV hub in Tamil Nadu, which will help the brand expand its manufacturing capabilities across electric 2Ws, 4Ws and battery cells.
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Bhavish Aggarwal, CEO, Ola said, “We are on the right track to become a global hub for EVs. At Ola, our aim is to localize all critical elements of the EV value chain. Ola’s EV Hub would bring the entire EV ecosystem under one roof making us a much stronger vertically integrated mobility company across 2Ws, 4Ws and cells.”
Ola Electric currently retails only one product in the Indian market – the S1 electric scooter, which is offered in three different versions, namely S1 Air (new), S1 and S1 Pro. However, the company claims to be working on a range of different products for the market, including electric motorcycles, as well as electric cars.Source