Ola Invest $326 Million to setup World’s Biggest eScooter Plant
Tamil Nadu, Dec 14, 2020: India's leading cab service provider Ola inked an agreement with the Tamil Nadu government to invest $326 Million (Rs 2,400 crore) for setting up its first electric scooter factory in the state.
Upon completion, the factory will create nearly 10,000 jobs and will be the world's largest scooter manufacturing facility that will initially have an annual capacity of 2 million units, a statement said.
"In line with Prime Minister Narendra Modi's vision, Ola's factory is an important step in making an Atmanirbhar Bharat. It will catalyse reduction of India's import dependence in a key future sector like electric vehicles, boost local manufacturing, create jobs as well as improve the technical expertise in the country," it added.
Ola said India with its unique s...