Electric vehicle firm Ola Electric on Sunday signed a Memorandum of Understanding (MoU) with the Tamil Nadu government.
Under the agreement, the company is likely to invest Rs 7,614 crore to set up a cell manufacturing unit and four-wheeler manufacturing plant. The investment is expected to generate 3,111 direct jobs.
Thanking Tamil Nadu’s Chief Minister MK Stalin, Ola’s co-founder and CEO Bhavish Aggarwal said, “Ola will setup the world’s largest EV hub with integrated 2W, Car and Lithium cell Gigafactories in Tamil Nadu. Signed MoU with Tamil Nadu today. Thanks to Hon. CM MK Stalin for the support and partnership of the TN govt! Accelerating India’s transition to full electric!
