Ola Electric signs MoU with Tamil Nadu to set up largest electric vehicle ecosystem

Bengaluru Ola Electric, an electric vehicle (EV) company, on February 18 signed a Memorandum of Unde

Ola Electric, an electric vehicle (EV) company, on February 18 signed a Memorandum of Understanding (MoU) with the Government of Tamil Nadu to expand its manufacturing capabilities across two Wheelers, four Wheelers and cells.

As part of the MoU, Ola would set up an EV Hub which would comprise advanced cell and electric vehicle manufacturing facilities, vendor and supplier parks, and the larger ancillary ecosystem for EVs at a single location said the company statement.

Located in Krishnagiri and Dharmapuri Districts of Tamil Nadu, the Ola EV Hub would be the world’s largest EV facility at a single location, spread across approximately 2,000 acres, claimed the EV start-up.

Bhavish Aggarwal, CEO, Ola said, “This is our decade and we are on the right track to becoming a global hub for EVs. At Ola, our aim is to localise all critical elements of the EV value chain.”

Last year, Ola unveiled its first Li-ion cell, NMC 2170, which was built in its state-of-the-art Battery Innovation Centre (BIC) in Bengaluru, which was set up at an investment of $500 million.