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Ola Group to take a position Rs 7,614 cr in Tamil Nadu for lithium ion cells, EV vehicles

Electric car (EV) participant Ola Electric Mobility Pvt Ltd has signed a memorandum of understanding (MoU) with the Tamil Nadu authorities to take a position Rs 7,614 crore to fabricate EV vehicles and lithium ion cells within the state.

In line with the Authorities of Tamil Nadu, the group corporations of Ola Electric Mobility (Ola Cell Applied sciences Pvt Ltd and Ola Electric Applied sciences Pvt Ltd) will arrange a Lithium Ion Cell Plant and an EV Automobile Plant respectively. The state authorities mentioned Ola Electric Applied sciences would make investments Rs 5,114 crore to make lithium cells and Ola Electric Applied sciences would make investments Rs 2,500 crore for the automotive plant.

Two crops will come up in Krishnagiri district. A number of days in the past, the Tamil Nadu authorities unveiled its new EV business coverage.

Co-founder, Bhavish Agarwal tweeted, “Ola to set up world’s largest EV hub with integrated 2W, car and lithium cell Gigafactory in Tamil Nadu. Signed MoU with Tamil Nadu today. Thanks for the support and partnership with the Government of Tamil Nadu Thanks to Chief Minister MK Stalin!”

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