The Government of Tamil Nadu and Ola Electric, the largest electric vehicle firm in India, have signed a Memorandum of Understanding (MoU) to increase Ola Electric’s manufacturing capacity for 2Ws, 4Ws, and cells. In accordance with the terms of the MoU, Ola will establish an EV Hub, which will consolidate the larger ancillary ecosystem for EVs, vendor and supplier parks, and advanced cell and electric car manufacturing facilities.
The Ola EV Hub would be the largest EV facility ever built in one place, covering about 2,000 acres in Tamil Nadu’s Krishnagiri and Dharmapuri Districts.
Ola’s Contribution
Ola introduced the NMC 2170, its first Li-ion cell, last year. Its cutting-edge battery innovation centre (BIC) in Bangalore, Karnataka, cost USD 500 million to build. With more than 200 unique pieces of state-of-the-art lab equipment, BIC is one of the largest and most sophisticated cell R&D facilities in the world, covering all facets of cell-related research and development. The top-notch innovation hub is set up to provide integrated packages for battery pack design, manufacture, and testing all under one roof.
By 2023, Ola will start mass producing its cell at its future EV Hub. Ola will concentrate on creating regional supply networks for new materials and parts during the following ten years. Included in this are motors, rare-earth magnets, power electronics, semiconductors, the processing of lithium, and the creation of electrodes from minerals like nickel and graphite.
Statement by Bhavish Aggarwal, CEO, Ola
“Our Hon’ble Prime Minister has envisioned the next 25 years as Amrit Kaal in India. I firmly believe that this is our decade and we have a great opportunity to build our future. 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.”
About Ola
One of the biggest ride-hailing firms in the world, Ola is the leading mobility platform in India. Ola transformed urban mobility by making it a demand-based service for more than a billion people on three continents. Via its ride-hailing platform and the cutting-edge electric vehicles produced at its Futurefactory, the biggest, most cutting-edge, and environmentally friendly two-wheeler factory in the world, Ola is still advancing the world towards sustainable mobility today. Ola is committed to making the planet more sustainable and leaving it in a better state than when we found it.