Ola commences construction of its 100GWh gigafactory at Tamil Nadu facility

Electric vehicle maker Ola said on Wednesday that it has started construction of its 100 GWh plant at its manufacturing facility in Tamil Nadu.

The company has installed the first pole for its cellular plant in Krishnagiri, Tamil Nadu today.

The Giga plant is a facility where equipment and components related to electrification and decarbonization technologies are manufactured.

In February, Ola signed a Memorandum of Understanding with the government of Tamil Nadu committing an investment of Rs. 7,614 crore to manufacture electric vehicles, two-wheelers and lithium cell giant plants in the state.

The Ola Gigafactory is spread over an area of ​​115 acres and is expected to begin operations early next year with an initial capacity of 5 GWh (GWh). A company statement said that it will be raised to 100 GWh in stages.

When operations begin at full capacity, it is claimed that the plant will be one of the largest cell manufacturing facilities in the world.

Company Founder and CEO Bhavish Agarwal said, “This is a proud moment for us as we have installed the first pillar of our large plant today. Our giant plant will be a significant milestone in India’s electrification journey, bringing us closer to making India a global hub for electric vehicles.” .

Ola has also invested in research and development of cells and batteries and has established one of the most advanced cell research and development facilities in Bengaluru.

According to the Memorandum of Understanding signed with the state government, the company will create an electric vehicle hub that will house state-of-the-art electric vehicle and cell manufacturing facilities, vendor and supplier parks and a larger additional electric vehicle ecosystem, in one place.

(Only the title and image for this report may have been reworked by the Business Standard team; the rest of the content is generated automatically from a shared feed.)

First published: June 21, 2023 | 11:00 p.m ist