Ola Electric in Talks With Several Indian States to Set Up Cell, EV Factories

Mobility giant Ola Electric is exploring land to set up factories for electric cars and cells and is in talks with several countries, sources said. Ola Electric needs 1,000 acres of land to set up its mega cell plant and electric vehicle factory which is expected to attract investment of Rs. 10,000 crores.

Sources familiar with the matter said some countries were already competing.

The Ola Electric’s all-wheel drive ambitions are taking serious shape with some concept designs almost ready.

They said the company is in talks with the governments of Uttar Pradesh, Maharashtra, Gujarat, Karnataka, Tamil Nadu and Telangana to purchase land, adding that the company is likely to finalize it early next month.

The company already owns 500 acres in Krishnagiri in Tamil Nadu where it has built the Futurefactory, the world’s largest motorcycle factory.

A company spokesman declined to comment on the developments.

Ola’s current plans to acquire an additional 1,000 acres of land designated for a separate four-wheeler plant for the long-awaited automaker and for its proposed cellular plant that will provide cells for its two- and 4-wheeler product range.

In December 2020, Ola started production of its electric scooters in Tamil Nadu.

Ola Electric was one of the ten companies that bid under the Advanced Chemical Cell Battery Storage Program in India under the Production Linked Incentive Scheme for battery manufacturing capabilities with a budget outlay of Rs. 18,100 crores. It is the only Indian company for cars and electric vehicles to be selected by the government under the PLI.

While its cellular PLI offering was the maximum bid capacity of 20 GWh, founder and CEO Bhavish Agarwal blogged about the company’s plans for a larger 50 GWh plant to support 2W (two-wheel) and 4W (four-wheeled). )) plans.

Aggarwal has already announced his intention that Ola will launch its first electric car within the next 2-3 years to be produced in a new 4W plant to be built, separate from the existing 2Ws Futurefactory.

Newly entered into the domestic 2W electric vehicle segment, Ola has now emerged as the market leader, disrupting the industry with its dealer-free D2C (Direct to Customer) delivery and service model.

Since its first delivery on December 15 last year, Ola Electric has become India’s premier 2-watt electric maker.

The company recently introduced a new MoveOS2 software upgrade for the S1 Pro, with features like the new Economy mode that increases its range.

New Economy Mode that will increase range to industry-leading 165 km on a single charge Companion app opens and closes the Ola S1 Pro and its boots, cruise control feature allows rider to enjoy a comfortable ride, smooth navigation and owning the choice of playing music, all leading to an improved riding experience for the S1 Pro.

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