A story in The Times of India claims that Ola Electrics will buy over 1500 acres of land in Tamil Nadu to build an electric vehicle manufacturing. According to the article, Ola’s proposal to purchase the site has received state government approval, and it may end up being one of the largest purchases for a plant in the Indian car sector.
According to the article, which cited sources, Ola CEO Bhavish Aggarwal may make a statement in this respect within the next few days. “It will house the company’s electric vehicles manufacturing facility, a component supplier ecosystem, and a battery cell manufacturing plant,” the report added.
According to estimates, Ola plans to invest up to Rs 1 lakh crore in the “electric cars” park it is constructing in Tamil Nadu’s Krishnagiri district by the end of the decade.
In the area, Ola already owns around 500 acres, and the article said that it “is now adding a much bigger land piece of 1,500 acres as it wants to not only grow the capacity of its electric two-wheeler company but also looks at building electric automobiles as well as batteries in the area.”
Ola intends to house all of its essential suppliers and partners in one location.
In addition to increasing the number of scooter types, Ola CEO Agarwal also intends to offer motorbikes, which might happen within the next year or so. Ola introduced its first scooter last year.
According to a recent article in one of the renowned media platforms, the manufacturer of electric vehicles also intends to launch its own EV taxi service in Bengaluru.
The business eventually intends to increase the number of EV taxis to over 10,000 in the city in a single year.
The founder of Ola, Bhavish Aggarwal, has asserted that the ride-hailing industry is “very profitable” and “a mature business” in spite of frequent client complaints about falling service quality.
