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Ola to setup cell and electric car factories, scouting begins – EQ Mag Pro

Ola to setup cell and electric car factories, scouting begins – EQ Mag Pro

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Ola Electric will be soon establishing 1,000-acre cell and electric car factories across the country.

Ola Electric is actively on the hunt for land to set up the cell and electric car factories in multiple states across the country. The OEM plans to buy 1,000 acres of land to set up the cell gigafactory and expects an investment of Rs.1000 crore.

According to the sources, many state governments (which include governments of Uttar Pradesh, Maharashtra, Gujarat, Karnataka, Tamil Nadu, and Telangana) are competing for land acquisition bids as the talks about the Ola Electric’s four-wheeler are gaining momentum and results will be soon finalised. The design conceptualization has already begun taking shape.

Ola has already established a 500-acre future factory in Krishnagiri, Tamil Nadu, becoming the world’s largest two-wheeler factory. Developments about the same are not very clear as of now.

Additionally, Ola’s latest plans include building a 1,000-acre separate land area for a four-wheeler factory which would supply cells for its 2-wheeler and 4-wheeler products range. Ola began the production of electric scooters in December 2020 for the first time in Tamil Nadu.

Being one of the 10 companies who contended for the Advanced Chemistry Cell Battery Storage Programme in India, Ola has been the only Indian auto and EV company that has been selected by the government under PLI.

While the PLI bid was restricted to 20GWh capacity, Ola plans to set up a 50GWh factory to facilitate its own two-wheelers and four-wheelers plans, said Bhavish Aggarwal, Founder and CEO, Ola Electrics.

Of late, the company introduced a new software upgrade MoveOS2 for the S1 Pro, with features such as the new Eco Mode that increases its range.

The company has officially made the announcement public about the launch of the first electric car in the next 2-3 years. With the D3C model of delivery and service, Ola has emerged as a market leader in a very short span of time.

Source: PTI

Anand Gupta Editor - EQ Int'l Media Network