Ola Electric Mobility has entered a memorandum of understanding (MoU) with the Tamil Nadu government to set up EV hub.
The company will make an investment of Rs 7,614 crore to make EV cars and lithium-ion cells in the state.
Ola Electric Mobility’s group companies, Ola Cell Technologies and Ola Electric Technologies will set up the lithium-ion cell plant and EV car plant respectively.
Ola Electric Technologies will infuse Rs 5,114 crore for making lithium cells, while Ola Electric Technologies will invest Rs 2,500 crore for the car plant.
The two plants will come up in Krishnagiri district and Dharmapuri district.
It will also have vendor and supplier parks along with an ancillary ecosystem, making it the world’s largest EV facility in a single location, spread across around 2,000 acre land parcel. The company will commence production of its cell plant by 2023.
