Ola partners with Siemens for building EV manufacturing facility to produce 2M units a year
heels of Ola’s MoU with the government of Tamil Nadu to invest nearly Rs 2,400 crore towards building this facility.has announced that it has partnered with Siemens as it looks to rapidly build its upcoming electric vehicle manufacturing facility. This announcement comes on the
Ola said in a statement that the factory will generate almost 10,000 jobs and with an initial capacity of two million units a year, it will be the "largest scooter manufacturing" facility in the world. It will serve as Ola’s global manufacturing hub, catering to its customers in India as well as key markets across Europe, the UK, Latin America, and ANZ.
As part of the collaboration, Ola will have access to Siemens’ integrated Digital Twin design and manufacturing solutions to digitalise and validate product and production ahead of actual operations. The ride-hailing unicorn also said that the factory will be AI-powered with Ola’s proprietary AI Engine, and the entire material handling process will be fully automated.
Bhavish Aggarwal, Chairman and Group CEO, Ola, said:
‘‘Ola is delighted to partner with Siemens to build the most advanced manufacturing facility in the country. This will be our global hub and will set a benchmark in quality, scale, and efficiency, demonstrating India’s capability to build world-class cutting-edge products. We look forward to bringing this factory online in the coming months and put our products in the hands of customers.”
Bhavish Aggarwal, Co-founder and CEO, Ola
Ola is reportedly gearing up to launch the first of its range of electric scooters next month and is looking to also raise $300 million for brand building, distribution, and technology enhancement. Some of Ola Electric's existing investors include Pawan Munjal Family Trust, Kia Motors, Hyundai Motor Company, SoftBank, Tata Sons Private Limited, Tiger Global Management, and Matrix Partners India, and the ride-hailing giant has raised close to $400 million so far.
In May 2020, Ola Electric announced the acquisition of Amsterdam-based Etergo BV for an undisclosed amount to bolster its engineering and design capabilities in the electric vehicle (EV) space.