Ola is setting up a 1500-acre EV manufacturing plant, preparing for a solid claim in the EV sector.
New Delhi: The use of electric vehicles is increasing rapidly in the country. The biggest increase has been seen in the demand for two-wheeler electric vehicles. Electric scooter maker Ola is going to set up an EV manufacturing plant to present a solid claim in the EV sector. For this, Ola is buying 1500 acres of land in Tamil Nadu. It is being said that the state government has approved the land deal.
1500 acres of land deal in Tamil Nadu
According to a report in The Times of India, Ola Electrics is going to acquire about 1500 acres of land in Tamil Nadu. An electric vehicle factory will be set up on this land. According to the report, the state government has approved Ola’s plan for land acquisition. It is being said that this could be one of the biggest deals for a factory in the Indian automobile industry.
EV, component, battery manufacturing at the plant
Quoting sources, it has been said in the report that Ola CEO Bhavish Aggarwal can announce this in the next few days. In this plant, along with electric vehicle manufacturing, component and battery cell manufacturing will be done. Ola is expected to invest around Rs 1 lakh crore by the end of this decade in the electric vehicle segment. For this, it is setting up a plant in Krishnagiri district of Tamil Nadu.
Ola eyeing e-car
Ola already has an area of about 500 acres and now a large plot of 1,500 acres is being added to it. With this, the company wants to increase the capacity of its electric two-wheeler business and increase the manufacturing of electric vehicles. Along with this, the company is also eyeing the manufacture of electric cars. Let us tell you that the company launched its first electric scooter last year.
