Ola Electric scouting for land to set up electric car factory

Ola Electric plans to invest around Rs 10,000 crore for the new factory

Ola Electric has ambitious plans to expand its EV business in India. The company is looking to set up a second factory in the country for its upcoming electric car. It is scouting for land and is reportedly in talks with several state governments.

Ola Electric plans to invest around Rs 10,000 crore for the new factory, which is expected to be spread over 1,000 acres. Reports suggest that the company has approached the state governments of Uttar Pradesh, Gujarat, Maharashtra, Karnataka, Telangana and Tamil Nadu.

Ola Electric had set up its first FutureFactory in Krishnagiri, Tamil Nadu. It has been churning out S1 and S1 Pro electric scooters since December 2020. The new electric car factory will be almost double the size of the current facility.

Source: ET Auto