Ola Electric Car to Enter Production Soon, MoU Signed to Produce EVs in Tamil Nadu

Ola Electric car was unveiled in 2022 and the company plans on launching the car by the second half of 2024, the production of the electric car seems to be going fastrack with the MoU.

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With an investment of Rs 7,614 crore, the Tamil Nadu government has inked an MoU with Ola Electric Mobility to create a 20 GW battery manufacturing facility and produce four-wheeled electric vehicles. According to the official announcement, up to 3,111 persons will be employed by these operations. In an effort to support the EV industry, the Tamil Nadu government on February 14 released its electric vehicle (EV) strategy 2023, which intends to attract investments worth Rs 50,000 crore and create 1.50 lakh employment.

On Tuesday, Chief Minister M K Stalin formally released the new policy in the presence of government officials at the Secretariat in Chennai. "To support this goal, Tamil Nadu aims to electrify the vehicular fleets operating in the State by leveraging its vibrant automotive ecosystem comprising original equipment manufacturers, auto component ancillaries, highly skilled workforce, and robust research and development capabilities," the policy document said.

"Tamil Nadu has a vision of attracting Rs 50,000 crore worth of investments in EV manufacturing, creation of 1.5 lakh new jobs, and development of a robust EV ecosystem in the State," the document stated.

It also mentioned that the government would encourage the adoption of electric vehicles in the state with 100 percent road tax exemption among others. During the last five years, the state has transformed into a leading EV manufacturing hub with new entrants including Ather Electric and Ola Electric having set up their production facilities. 

It is to be noted that Ola Electric is currently manufacturing electric scooters in India, but with this factory, the EV manufacturer will start the production of the Ola Electric car which it expects to launch in the second half of 2024. The company has teased the electric car multiple times but it still is in the development phase.

(With ANI Inputs)