Ola may enter e-scooter manufacturing space, is in talks with state governments1 min read . Updated: 04 Nov 2020, 10:20 AM IST
Sources say Ola Electric, the EV arm of the ride hailing company, has been engaging with state governments, including Karnataka, Tamil Nadu, Andhra Pradesh and Maharashtra to set up manufacturing plants.
Ola is in talks with various state governments to set up India's largest e-scooter manufacturing plant, according to sources.
Sources close to the development said Ola Electric, the EV arm of the ride hailing company, has been engaging with state governments, including Karnataka, Tamil Nadu, Andhra Pradesh and Maharashtra, to set up an e-scooter manufacturing plant with an annual capacity of about 2 million units.
One of the sources said the facility is proposed to be established on a 100-acre land and is envisaged to be state-of-the-art, use solar energy and have zero-effluent footprint.
When contacted, Ola did not comment on the matter.
Ola Electric plans to start production in the next 18-24 months, another person privy to the development said.
The move will pitch Ola Electric against players like Bajaj Auto, Hero MotoCorp-backed AtherEnergy, Hero Electric and others that currently make electric two-wheelers in the country.
In May this year, Ola Electric announced the acquisition of Amsterdam-based Etergo BV for an undisclosed amount.
In August, Ola Electric announced plans of hiring 1,000 engineers and introducing an electric two-wheeler soon.
Ola Electric has raised about USD 400 million in funding from Tiger Global, Matrix India, Tata Sons Chairman Emeritus Ratan Tata and others.
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