Ola Electrics to invest Rs 7,600 cr in setting up EV manufacturing hub in Tamil Nadu

Chennai, Feb 20 (KNN) Ola Electrics on Saturday announced an agreement with the Tamil Nadu government to set up world’s largest EV manufacturing hub in the state.

As per reports, the EV manufacturing hub will include advanced cell and electric vehicle manufacturing facilities, vendor & supplier parks, and an ancillary ecosystem for EVs at one single location.

Ola Electrics will be investing about Rs 7,600 crore to set up the EV hub in Tamil Nadu, which will help the brand expand its manufacturing capabilities across electric 2Ws, 4Ws and battery cells, reported ET, who got in touch with a government official on this matter.

Speaking about the MoU signed, Bhavish Aggarwal, CEO, Ola said, "We are on the right track to become a global hub for EVs. At Ola, our aim is to localize all critical elements of the EV value chain.”

“ Ola’s EV Hub would bring the entire EV ecosystem under one roof making us a much stronger vertically integrated mobility company across 2Ws, 4Ws and cells,” he said.

The EV hub will be located in the Krishnagiri and Dharmapuri districts of the state.   (KNN Bureau)