Ola Electrics is set to acquire everywhere 1500 acres of land in Tamil Nadu to set up an electric car factory, according to a story in The Times of India. The report requested that the state govt has approved Ola’s idea to acquire the land and it might become one of the biggest transactions for a factory in the Indian automobile industry.
Citing foundations, the report said that an announcement in this esteem might be made by Ola CEO Bhavish Aggarwal in the succeeding few days. “It will house the company’s electric vehicles industrial facility, a component supplier ecosystem, and a cordless cell manufacturing plant,” the report adds.
Ola to buy 1,500 acres in Tamil Nadu!
Ola is predicted to invest around Rs 1 lakh crore by the end of the period in the ‘electric vehicles’ park that is located up at the Krishnagiri region in Tamil Nadu, sources told TOI.
As per the account, Ola already has around 500 acres in the part and “is now adding a much bigger land lot of 1,500 acres as it looks to not only expand the volume of its electric two-wheelers business but to looks at making electric cars as well as series in the area”.
Ola wants to family all its critical vendors and suppliers in a similar area.
Ola launched its initial scooter last year and CEO Agarwal has an aggressive development plan as he is not only developing to increase the number of scooter models, but he also wants to familiarize motorcycles that may come in the next one day or so.
The electric vehicle manufacturer is also planning to start its EV cab services in Bengaluru, the Economic Times testified recently.
The company finally plans to scale up the number of EV cabs to over 10,000 in one year in the metropolitan.