Ola Electric is in talk for land to set up its cell and electric car factories with many states, as per sources. Ola Electric needs 1,000 acres of land to set up its cell gigafactory and electric car factory which is expect to attract an investment of Rs. 10,000 crore.
Some states are already vying, as per sources.
Ola Electric’s four-wheeler ambitions are taking a serious shape with some concept designs almost ready.
It is in talks with governments of Uttar Pradesh, Maharashtra, Gujarat, Karnataka, Tamil Nadu, and Telangana for land acquisition, they said adding the company is likely to finalise it as early as next month.
The Ola already has 500 acre in Krishnagiri in Tamil Nadu where it has built its Futurefactory, the world’s largest two-wheeler factory.
Ola spokesperson decline to comment on the developments.
Ola’s current plans for additional 1,000 acre of land are for a separate four-wheeler factory for its much-anticipate car factory and for its propose cell gigafactory that will supply cells for its 2-wheeler and 4-wheeler product range.
In December 2020, Ola start the production of its electric scooters in Tamil Nadu.
Ola Electric was one of the 10 companies that submit a bid under the Advance Chemistry Cell Battery Storage Programme in India under the production-link incentive scheme for battery manufacturing capabilities with a budget outlay of Rs. 18,100 crore.
It is the only Indian auto and EV company that has select by the government under PLI.
While its cell PLI bid was for the maximum allow bid capacity of 20GWh, founder and CEO Bhavish Aggarwal had blog about the company’s plans to set up an even larger 50GWh gigafactory to support its own 2W (two-wheeler) and 4W (four-wheeler) plans.
Bhavish Aggarwal has already made public his intention for Ola to launch its first electric car in the next 2-3 years to be produce at a new 4W factory to be built, separate from the existing Futurefactory for 2Ws.
A new entrant into the domestic EV 2W segment, Ola has now emerge to be the market leader, disrupting the industry with its dealer-less D2C (direct to costumer) model of delivery and service.
From its first delivery on 15th December, 2022, Ola Electric has become India’s No. 1 electric 2W maker.
Ola recently introduce a new software upgrade MoveOS2 for the Ola S1 Pro, with features such as the new Eco Mode that increases its range.
A new Eco Mode which will increase the range to an industry-leading 165km on a single charge, a Companion app unlocks and lock Ola S1 Pro and its boot, a Cruise control feature allows the rider to have a comfortable ride, seamless Navigation and own choice of music playback, all leading to an enhance ride experience of Ola S1 Pro.
