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Ola signs MoU with TN govt to set up a 2000 acres EV facility

Electric Vehicle (EV) maker Ola Electric has signed a Memorandum of Understanding (MoU) today with the Government of Tamil Nadu to expand its manufacturing capabilities in two- and four-wheel steering vehicles and cells. As part of the MoU, Ola will establish an EV hub in the districts of Krishnagiri and Dharmapur in Tamil Nadu.

It will house advanced cell and electric vehicle manufacturing facilities, vendor and supplier parks, and the larger ancillary ecosystem for EVs, the company said in a statement. It also claims to be the world’s largest EV facility at a single location.

“At Ola, our aim is to localize all critical elements of the EV value chain” said Bhavish Aggarwal, CEO, Ola in a statement. He added that the company’s aim is to localize all critical elements of the EV value chain and contribute to making India a global hub for EVs. “Ola’s EV Hub would bring the entire EV ecosystem under one roof making us a much stronger vertically integrated mobility company,” he added.

Last year, Ola unveiled its first Li-ion cell—NMC 2170— was built in its Battery Innovation Center (BIC) in Bengaluru, Karnataka.

The BIC has over 200 unique and cutting-edge lab equipments to cover all aspects of cell-related research and development. This innovation center is also equipped to develop complete packages of battery pack design, fabrication, and testing under one roof. According to the company, it will begin the mass production of its cell from its upcoming EV hub this year.

Ola Electric will spend the next decade focusing on developing local supply chains for new materials and components, like motors, rare earth magnets, semiconductors, power electronics, lithium production, electrode production.

Edited by Akanksha Sarma

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