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    Tuesday, November 28, 2023

      Ola Electric Car to Start Production Soon as MoU Signed to Produce EVs in Tamil Nadu

      The Tamil Nadu government has sign an MoU with Ola Electric Mobility to create a 20 GW battery manufacturing facility and produce four-wheeled electric vehicles with an investment of Rs 7,614 crore.

      As per the official announcement, up to 3,111 persons will be employe by these operations.

      In an effort to support the EV industry, the Tamil Nadu government on 14th February 2023 release its electric vehicle (EV) strategy 2023, which intends to attract investments worth Rs 50,000 crore and create 1.50 lakh employment.

      Chief Minister M K Stalin formally release the new policy in the presence of government officials at the Secretariat in Chennai.

      As per the policy document :

      “To support this goal, Tamil Nadu aims to electrify the vehicular fleets operating in the State by leveraging its vibrant automotive ecosystem comprising original equipment manufacturers, auto component ancillaries, highly skilled workforce, and robust research and development capabilities,”.

      “Tamil Nadu has a vision of attracting Rs 50,000 crore worth of investments in EV manufacturing, creation of 1.5 lakh new jobs, and development of a robust EV ecosystem in the State,”.

      Policy document also mention that the government would encourage the adoption of electric vehicles in the state with 100% road tax exemption among many others.

      During the last five years, the state has transform into a leading EV manufacturing hub with new entrants including Ather Electric and Ola Electric having set up their production facilities. 

      ALSO READ  Ola Electric to Set Up Battery Innovation Centre in Bengaluru

      As Ola Electric is currently manufacturing electric scooters in India, but with this factory, the EV manufacturer will start the production of the Ola Electric car which it expects to launch in the second half of 2024.

      Ola Electric has tease the electric car multiple times but it still is in the development phase.

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