We have seen Ola cabs, Ola minis, Ola micros, Ola Autos and Ola Scooters. Now, it’s time for Ola Electric and it’s on its way. Ola, the chief rival to Uber in India has said on Monday that it has signed an MoU ( Memorandum of Understanding ) with the Tamil Nadu government to set up what Ola claims to be the world’s largest Scooter manufacturing facility. Ola’s largest scooter facility is reported to have an annual capacity of 2 million units and is estimated to be built for 2,400 crore INR.
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It aims to provide jobs to around 10,000 people and also aims to cater to domestic as well as international needs.
In 2019, Ola Electric Mobility, an independent unit backed by Ola came into the picture. Earlier this year, it acquired Amsterdam based Etergo, a dutch smart electric scooter manufacturer. Ola plans to revolutionise the electric mobility landscape in India and this factory might just be the stepping stone for that mighty ambition.
Ola aims to voice Local manufacturing and upscale the level of technical expertise in the electric mobility landscape to open up big possibilities for the future. It will also ship units manufactured here to European, Latin American and other Asian markets. Ola plans to launch and expand its electric 2-wheeler models across various markets and this move comes at a time when Ola is planning to launch its first electric scooter, as early as January next year, according to some sources. This factory will not only help in the making of that but also enable Ola to practically achieve its mighty ambition and indeed create a new way ahead for the future of electric in India.
Official statement
“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,” said Bhavish Aggarwal, Chairman and Group CEO, Ola. Ola has big bets on the potential of the mighty 2-wheeler segment in India and other Asian markets.
Ola is backed by some big daddies like SoftBank, DST Global, Matrix, Tencent, Sequoia India, Didi Chuxing etc. With the ambition and acquiring the ability, the resources, the talent to fulfil that ambition, all while vouching for Local manufacturing and hiring local, helping create jobs and boost the economy, Ola might have a game-changer on their hand here. A one that just might turn out be a match-winner.