Ola in talks with various state governments to start e-scooter manufacturing plant
is in talks with various state governments to set up India's largest e-scooter manufacturing plant, according to sources.
Ola Electric, the EV arm of the ride hailing company, is said to have been engaging with state governments, including Karnataka, Tamil Nadu, Andhra Pradesh, and Maharashtra, to set up an e-scooter manufacturing plant with an annual capacity of about 2 million units.
One of the sources said the facility is proposed to be established on a 100-acre land and is envisaged to be state-of-the-art, use solar energy, and have zero-effluent footprint.
When contacted, Ola did not comment on the matter.
plans to start production in the next 18-24 months, another person privy to the development said.
The move will pitch Ola Electric against players like Bajaj Auto, Hero MotoCorp-backed AtherEnergy, Hero Electric, and others that currently make electric two-wheelers in the country.
In May this year, Ola Electric announced the acquisition of Amsterdam-based Etergo BV for an undisclosed amount.
Bhavish Aggarwal, Founder and Chairman, Ola Electric, said, “The future of mobility is electric, and the post-COVID world presents an opportunity for us to accelerate the adoption of electric mobility globally."
In August, Ola Electric announced plans of hiring 1,000 engineers and introducing an electric two-wheeler soon.
Ola Electric has raised about $400 million in funding from Tiger Global, Matrix India, Tata Sons Chairman Emeritus Ratan Tata, and others.
Ola Electric plans to set up charging and swapping networks across the country. The startup has been running several pilots to deploy electric vehicles and charging solutions across cities with a primary focus on two and three-wheelers. The startup says it aims to build a suite of electric and smart urban mobility solutions for global citizens, both in India and around the world.
(Disclaimer: Additional background information has been added to this PTI copy for context)
Edited by Teja Lele