Ola company announced that the company will set up a factory in India that will produce 10 million E-Vehicles per year. The factory will be set up in Tamilnadu’s Krishnagiri district which is expanded up to 500-acre land.
The factory will be set up in a mega block of 41-acre land. The company’s CEO Bhavish Agarwal shared the visuals of his plan on Twitter.
Ola creates a partnership with drivers and cab owners to provide diverse cab services across India, presently serving in more than 250+ cities. Ola is an Indian ridesharing company founded in 3rd Dec 2010 by Bhavish Agarwal and Ankit Bhati but according to the data available company’s major shareholder includes DST Global (6.72%), Matrix Partners (8.57%), Tencent (10.39%), Tiger Global (15.94%) and Soft Bank Group (26.1%).
The Vision of Ola Company
Ola company’s vision is to establish itself as a manufacturer that will produce low-cost e-vehicles globally. Initially its aim to manufacture 2 million scooters per year After that it will manufacture at its full capacity of 10 million per year.
The company wants to produce high-performance e-scooter (two-wheelers) across India and international markets including UK, Latin America, Asia Pacific, Australia New Zealand, and Europe with a low price segment (Price not disclosed yet). Long term plan of the company is to also manufacture the e-vehicles car which will give high competition to Elon Musk’s model in India.
The company is hoping to start its first phase will be operational in the upcoming months. Rs 2400-crore MoU already signed with the Tamilnadu government and the Land acquisition was completed in January itself.
Job opportunity through this project
Ola is expected to provide 10000+ job opportunities in India but the company will also use the latest technology Artificial Intelligence and 3000+ robots on a big level.