New Delhi
Mobility giant Ola Electric is scouting for land to set up its cell and electric car factories and is in talks with multiple states, sources said. Ola Electric needs 1,000 acres of land to set up its cell gigafactory and electric car factory which is expected to attract an investment of Rs 10,000 crore.
Sources aware of the matter said that some states are already vying. 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 finalize it as early as next month.
The firm already has 500 acre in Krishnagiri in Tamil Nadu where it has built its Futurefactory, the world’s largest two-wheeler factory. A company spokesperson declined 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-anticipated car factory and for its proposed cell gigafactory that will supply cells for its 2-wheeler and 4-wheeler product range.
In December 2020, Ola started the production of its electric scooters in Tamil Nadu.
Ola Electric was one of the 10 companies that submitted a bid under the Advanced Chemistry Cell Battery Storage Programme in India under the production-linked 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 been selected by the government under PLI.
