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Ola EV Hub in Tamil Nadu
In a groundbreaking move, Ola Electric, the Indian electric scooter manufacturer has signed a Memorandum of Understanding (MoU) with the Tamil Nadu government to establish the world’s largest Electric Vehicle (EV) hub in the southern state.
The Memorandum of Understanding (MoU) is worth Rs. 7,614 crores with the Government of Tamil Nadu to establish a state-of-the-art EV cell plant and electric 4-wheeler plant. This ambitious project, located in the picturesque SIPCOT Bargur in Krishnagiri District, is expected to generate employment for up to 3,111 people, creating a ripple effect of economic growth and prosperity for the region.
The announcement comes as a major boost to India’s ambitious plans to transition towards electric mobility and reduce its carbon footprint.
Ola Electric New Gigafactory in Tamil Nadu
The integrated EV hub will include two-wheelers, cars, and lithium cell Gigafactories. The facility will be set up in two phases, with the first phase scheduled to be operational by 2022. The initial phase will have a production capacity of 2 million electric scooters per year, and the company expects to ramp up the production to 10 million units per year by 2025. The second phase will focus on the production of electric cars and battery storage solutions.
This news will serve as a big push for the New EV policy laid down by the Tamil Nadu government a few days back. In the new policy, they promised 48,000 jobs in the EV sector.
The factory will not only boost the economy of Tamil Nadu, but it’ll also help in the quick adoption of Electric Vehicles across the state.
The establishment of the EV hub is a significant step forward in the Indian government’s goal of having 30% electric vehicles on the road by 2030. Ola’s move is also expected to create job opportunities and generate economic growth in the state of Tamil Nadu.
Bhavish Aggarwal Said-
Speaking on the occasion, Ola’s founder and CEO Bhavish Aggarwal said, “The Ola Future Factory will put India on the global EV map and catalyze the establishment of a local EV supply chain. We are excited to work with the Tamil Nadu government to enable environmentally sustainable mobility for millions of Indians.”
M.K. Stalin, CM, of Tamil Nadu Said-
The project has received widespread support from the government, with Tamil Nadu Chief Minister M.K. Stalin expressing his enthusiasm for the initiative. In a tweet, he said, “This MoU with Ola Electric is a giant step towards making Tamil Nadu the EV manufacturing hub of India. We welcome Ola Electric to Tamil Nadu and look forward to their contribution to the state’s industrial growth.”
The world is moving towards sustainable and environment-friendly modes of transportation, and India is no exception. With Ola’s announcement, the country is taking a toward cant leap toward achieving its electric mobility goals. The establishment of the EV hub will not only reduce carbon emissions but also create jobs, boost economic growth, and enhance the quality of life for millions of people.
The partnership between Ola and the Tamil Nadu government is a game-changer for the Indian electric vehicle market, and its positive impact will be felt for years to come. The project is a testament to the power of public-private partnerships and the collective effort needed to build a sustainable future.