Ola Electric to invest INR 7,600 crore in Tamil Nadu for EV and Cell manufacturing facilities

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Bhavish Aggrawal’s Ola Electric plans to invest slightly more than INR 7,600 Cr in setting up manufacturing facilities in Tamil Nadu to manufacture electric vehicles (EVs), EV components, and batteries.

According to an ET report, Ola Electric signed a memorandum of understanding (MoU) with the government of Tamil Nadu to that effect. In the southern state, the EV manufacturer intends to construct two facilities: an advanced cell chemistry (ACC) plant under the Union government’s production-linked incentive (PLI) scheme and a four-wheel EV plant. According to a state government official cited by the publication, the two plants would cost around INR 5,100 Cr and INR 2,500 Cr, respectively.

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Ola Electric to invest INR 7,600 crore in Tamil Nadu for EV and Cell manufacturing facilities

Bhavish Aggrawal’s Ola Electric plans to invest slightly more than INR 7,600 Cr in setting up manufacturing facilities in Tamil Nadu to manufacture electric vehicles (EVs), EV components, and batteries.

According to an ET report, Ola Electric signed a memorandum of understanding (MoU) with the government of Tamil Nadu to that effect. In the southern state, the EV manufacturer intends to construct two facilities: an advanced cell chemistry (ACC) plant under the Union government’s production-linked incentive (PLI) scheme and a four-wheel EV plant. According to a state government official cited by the publication, the two plants would cost around INR 5,100 Cr and INR 2,500 Cr, respectively.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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