Ola is looking for land of around 1,000 acres to step up a manufacturing facility for its electric car project. Currently, they are finalising their options from state governments, including Uttar Pradesh, Tamil Nadu, Karnataka, Maharashtra, Telangana and Gujarat. The approximate cost for the total project is around INR 10,000 crore. The talks with the aforementioned state governments are at a preliminary stage. But, we have reports that claim the Uttar Pradesh state government is currently the forerunner of all. We could see the project come up in the Varanasi constituency if this goes through.
Ola has quickly become the most favoured electric mobility company in India. The demand is on the rise, and Ola’s 10 million unit two-wheeler factory in Tamil Nadu is working at full capacity.
Ola’s Electric Car Plans
After foraying itself into the two-wheeler segment, Ola is calculating its options in the four-wheeler segment. As it stands, the company has released the rendered images of its concept electric car. Furthermore, Ola is also looking for land to set up its lithium-ion cell manufacturing, and it could come up in a separate location.
Reports suggest that the R&D process with the car has been in progress for 6 to 8 months now. Ola Electric CEO Bhavish Aggarwal mentioned that the INR 10 lakh category makes a lot of sense, especially in the Indian market. Currently, there are no electric car options as such in this range, and thus Ola has its focus on the same. Some EV cars in the entry-level segment are doing quite brilliantly in China. Hence, Ola aims to replicate the success in the Indian market as well.
India And Abroad
Alongside India, Ola also has ambitious plans to foray into South Asia, Latin America, and Europe. The aim is to build electric vehicles that are accessible to the masses. Options will include two-wheelers, small cars, and also mid-size cars.
Also Read: Ola S1 Pro electric scooter price hiked by INR 10,000
