Ola, one of the leading mobility companies is all set to start the construction of its largest two-wheeler mega-factory. The phase-1 production will likely begin within a few months. Founded back in 2010, Ola is now a USD 6.5 million worth company with its services available across the globe in more than 250 cities in India, Australia, New Zealand and the United Kingdom.
Reportedly, Ola was planning for this mega project for a long time and upon meeting all the business requirements, it finalised the project plan. Ola will be investing around 2,400 crores for this mega project and also signed an MoU with the Tamil Nadu government. The company claims that the entire project will have a strong focus on the environmental impact. A dedicated green belt is on the cards which will help plant trees on the site. The company is also planning to have a large forest area within the premise to reuse the excavated soil and rocks within the factory.
In the first phase, the world’s largest two-wheeler factory will have an initial capacity of 2 million units a year which will serve both the local Indian market along with serving international markets in Europe, UK, Latin America, Asia Pacific, Australia and New Zealand. Ola claims that this facility will be the country’s most automated manufacturing facility. The company will use all the latest technology stack available at its disposal to enable a modern and tech-driven approach to accomplish the targets. Ola mentions that it will be creating 10,000 jobs through this project.
In an official announcement, Ola had confirmed that the company is close to launching its first range of electric scooter in the coming months. The electric-scooter in the discussion was recently spotted testing in a completely camouflaged avatar. Reports suggest that the electric-scooter will likely have a top speed of over 100 kmph. Once launched, the vehicle will enter the already crowded electric scooter segment and thus we can expect a very competitive sticker price.