Ola Electric to set up electric car and battery cell plants, on hunt for lands
After successfully setting up its electric two-wheeler facility, Ola Electric is now gearing up to set up its second facility in the country. The Tamil Nadu-based electric two-wheeler manufacturer is now going to focus on its electric four-wheeler business as promised earlier. The company is on hunt find lands to set up the facility where it will manufacture Ola electric cars, as well as battery cells for its EVs.
Earlier, an Ola Electric official had confirmed to HT Auto that the upcoming electric car will be built in a new FutureFactory.
According to reports, the new facility may not be in Tamil Nadu. Ola Electric is reportedly in talks with several state governments to find a piece of land to set up the new facility. It requires around 1,000 acres of land for the EV four-wheeler factory, almost double of the FutureFactory where it builds S1 Pro electric scooters.
Ola Electric plans to invest around ₹10,000 crore for the new facility. So far, Ola Electric has been in talks with state governments in Uttar Pradesh, Gujarat, Maharashtra, Karnataka and Telangana besides its home base Tamil Nadu. A final decision is likely to be taken within a month.
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Bhavish Aggarwal, CEO and founder at Ola Electric, had earlier revealed the company's plan to foray into the electric four-wheeler space. He had shared an image of an electric car in concept form as well. The image shared hints that Ola Electric will possibly be working on a battery electric hatchback first, which could be an affordable EV. Ola is currently working on the design of the upcoming electric vehicle. The production is likely to start in the next two years.
Ola Electric had set up its FutureFactory in Krishnagiri, Tamil Nadu which has been functional since December 2020. It is considered as the world's largest electric two-wheeler manufacturing facility. Ola Electric began delivering its electric scooters from December 15 last year. The EV maker is now India's leading two-wheeler manufacturer with more than 10,000 units sold every month.