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Business News/ Auto News / Ola Electric signs memorandum to produce four-wheeler EVs in Tamil Nadu
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Ola Electric signs memorandum to produce four-wheeler EVs in Tamil Nadu

Ola Electric Mobility will invest ₹7,614 crore in the manufacturing facility to provide employment to 3,111 people.

The MoU was signed in the presence of Tamil Nadu CM MK StalinPremium
The MoU was signed in the presence of Tamil Nadu CM MK Stalin

Ola Electric Mobility signed a memorandum of understanding (MoU) with Tamil Nadu government at Chennai Secretariat today. The company aims to establish a 20 GW battery manufacturing facility in the state to produce its four-wheeler electric vehicles.

As per a ANI agency report, the automaker will invest 7,614 crore in the manufacturing facility to provide employment to 3,111 people.

Ola Electric recently opened its second experience centre in Coimbatore. With the addition of the new centre located in Gandhipuram, the company now has two experience centres in the city including the one that was launched last year on Avinashi Road.

With 200 such experience centres already operational across all major cities in India, the firm plans to expand its network to 500 outlets by March 2023, a company release said here.

With an aim to provide all services under one roof, Ola experience centres allow EV enthusiasts to experience Ola's EV technology and gather any information regarding the vehicles.

They also enable customers to avail test rides of the S1 and S1 Pro, seek assistance in purchase from Ola's Brand Champions, get details on financing options and culminate into their purchase journey on the Ola app. These experience centres also double up as one-stop destinations for all the post sales care and maintenance of Ola scooters.

Recently, the Tamil Nadu government unveiled its electric vehicle (EV) policy 2023 which aims to garner investments to the tune of 50,000 crore and generate 1.50 lakh jobs, in a boost to the EV industry.

Chief Minister M K Stalin formally released the new policy in the presence of government officials at the Secretariat here.

The policy was launched in the backdrop of the government expecting battery operated vehicles to play a crucial role in the electrification of last mile connectivity.

"To support this goal, Tamil Nadu aims to electrify the vehicular fleets operating in the State by leveraging its vibrant automotive ecosystem comprising original equipment manufacturers, auto component ancillaries, highly skilled workforce and robust R&D capabilities," the policy document said.

(With agencies inputs)

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Published: 18 Feb 2023, 01:26 PM IST
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