Mobility giant Ola Electric is looking for land to set up its cell and electric car factories and is in talks with several states. Ola Electric needs 1,000 acres of land to set up its SAIL gigafactory and electric car factory, which is expected to attract an investment of Rs. 10,000 crores.
Sources familiar with the matter said some states are already in a race.
Ola Electric Key With some concept designs almost ready, the ambition of four-wheelers is taking a serious turn.
It is in talks with the governments of Uttar Pradesh, Maharashtra, Gujarat, Karnataka, Tamil Nadu and Telangana for land acquisition, they said, adding that the company may finalize it early next month.
The firm already has 500 acres of land in Krishnagiri, Tamil Nadu, where it has built Futurefactory, the world’s largest two-wheeler factory.
A company spokesperson declined to comment on the developments.
Ola’s current plan for an additional 1,000 acres of land is for a separate four-wheeler factory for its much-anticipated car factory and for its proposed SAIL gigafactory that will supply SAIL for its 2-wheeler and 4-wheeler product range .
In December 2020, Ola started production of its electric scooter in Tamil Nadu.
Ola Electric was one of the 10 companies that submitted bids under the Production-Linked Incentive Scheme for battery manufacturing capabilities under the Advanced Chemistry Cell Battery Storage Program in India with a budget outlay of Rs. 18,100 crores. It is the only Indian auto and EV company selected by the government under PLI.
While its SAIL PLI bid was for a maximum allowed bidding capacity of 20GWh, Founder and CEO Bhavish Agarwal decided to set up an even larger 50GWh gigafactory to support its own 2W (two-wheeler) and 4W (four-wheeler) company. blogged about the plan. ) plans.
Agarwal already made public He intends for Ola to launch its first electric car in the next 2-3 years to be built in a new 4W factory, separate from the existing Futurefactory for 2W.
A new entrant in the domestic EV 2W segment, Ola has now emerged as the market leader, disrupting the industry with its dealer-less D2C (Direct to Costume) model of delivery and service.
Since its first delivery on December 15 last year, Ola Electric has become India’s No. 1 electric 2W manufacturer.
The company recently introduced a new software upgrade MoveOS2 for S1 ProWith features like the new Eco Mode that extends its range.
A new Eco Mode that will extend the range up to an industry-leading 165km on a single charge, a Companion App will unlock and lock the Ola S1 Pro and its boot, a Cruise Control feature will give the rider a comfortable, smooth ride. Navigation in and of itself. Choice of music playback, all leading to a better riding experience of the S1 Pro.