Ola To Invest Rs 2400 Cr. In e-Scooter Factory & Charging Stations

In Clean Fund, Electric Mobility, News, Products, Sustainability
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Ride-hailing platform Ola is scouting for multiple sites across major cities in India and several locations in Europe to build a network of charging stations for electric two-wheelers, according to sources.

The Bengaluru-based company had recently announced signing an agreement with the Tamil Nadu government to set up its first electric scooter factory in the state.

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The new manufacturing plant — expected to be operational in a year’s time — will see the SoftBank-backed company invest Rs 2,400 crore.

Upon completion, the factory will create nearly 10,000 jobs and will be the world’s largest scooter manufacturing facility that will initially have an annual capacity of 2 million units.

The factory will cater to customers not only in India but in markets around the world, including Europe, Asia and Latin America.

According to sources privy to the development, Ola is also scouting for multiple sites in 50 cities across India and several key locations in Europe to build a global network of charging infrastructure.

These setups, which will be strategically located, can be used by Ola’s customers to rapidly charge their electric two-wheelers, they added.

While Ola’s e-scooters will feature a removable battery, the availability of a network of charging stations will address any concerns around charging requirements.

Ola is gearing up to launch the first of its range of electric scooters in the coming months.

Reference- livemint, Money Control, Mercom India

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