“We are excited to announce our plans to set up the world’s largest scooter factory. This is a significant milestone for Ola and a proud moment for our country as we rapidly progress towards realising our vision of moving the world to sustainable mobility solutions across shared and owned mobility. 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,” said Bhavish Aggarwal, Chairman and Group CEO of Ola, in a statement.
After signing the memorandum with the government of Tamil Nadu, Ola is backed by Softbank investing around $327 million for setting up a factory and it is believed to generate around 10,000
jobs in this sector.
Annual capacity is to produce 2 million electric vehicles
OLA said India having unique skill set people and man power can create impossible and india would become next global hub manufacturers in EV.
OLA plans to expand two wheeler electric vehicles in several market in the next two quarters, OLA factory will not only caters india but in the markets around the world like Europe, Asia and Latin America.
OLA is planning to swing it's magic stick in New Zealand to help government reaching their goal of bringing 64,000 electric vehicles at the end of the year.
They are planning to replicate the same model of Dutch fleet of scooters that uses battery with high energy and can go up to 240 Km per charge.
OLA is believed to generate more than 3,00,000 jobs in 2016
and is one of the most valuable startup in India .
Recently, OLA raised around $400 million from multiple investors like Tiger global, Tata sons and Matrix india.
The big vision of OLA is to connect all the small cities and towns and it seems like they're killin it
In context to it Narendra Modi said India needs these kinds of startup for Atma Nirbhar Bharat, generating jobs in india and reducing our dependencies of importation, boost local manufacturing and improve technical expertise in India.
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