Thursday, June 13, 2024
Outlook.com
Outlook India
Outlook Business

Ola Commences Construction Of Its 100GWh Gigafactory In Tamil Nadu

In February, Ola signed a memorandum of understanding with the Tamil Nadu government committing investments of Rs 7,614 crore for manufacturing electric cars, two-wheelers and lithium cell gigafactories in the state

Ola Commences Construction Of Its 100GWh Gigafactory In Tamil Nadu

Press Trust Of India

POSTED ON June 22, 2023 9:46 AM

Electric vehicle company Ola on Wednesday said it has commenced construction of its 100 GWh gigafactory at its manufacturing facility in Tamil Nadu.
The company has installed the first pillar of its cell factory in Krishnagiri, Tamil Nadu today.

A gigafactory is a facility where equipment and components related to electrification and decarbonisation technologies are manufactured.

In February, Ola signed a memorandum of understanding with the Tamil Nadu government committing investments of Rs 7,614 crore for manufacturing electric cars, two-wheelers and lithium cell gigafactories in the state.

Spread across 115 acres, the Ola Gigafactory is expected to commence operations by early next year with an initial capacity of 5 GWh (Giga Watt hours). It would be scaled up to 100GWh in phases, a company statement said.

On commencement of operations at full capacity, it is claimed that the factory would be one of the world's largest cell manufacturing facilities.

"This is a proud moment for us as we installed the first pillar of our gigafactory today. Our gigafactory will be a major milestone in India's electrification journey, bringing us closer to making India a global EV hub," said company founder and CEO Bhavish Aggarwal.

Ola has also invested in cell and battery research and development and has set up one of the advanced cell R&D facilities in Bengaluru.

As per the MoU signed with the state government, the company would set up an electric vehicle hub that would house advanced cell and electric vehicle manufacturing facilities, vendor and supplier parks and the larger ancillary ecosystem for electric vehicles, at a single location.
 

  • Related Articles

    With the help of this recent round of funding, Good Flippin' Burgers is eying to fuel its geographical expansion

    Good Flippin' Burgers Raises $4 Million in Series A Round

    This integration will facilitate the seamless transfer of data with authenticity and security

    TreZix Integrates With Centre's ULIP Initiative To Solve The Reconciliation Issues Faced By Exporters And Importers

    This collaboration aims to foster co-creation, collaboration, and a platform for introducing new technological advancements in the EV space

    Tsuyo Manufacturing Pvt Ltd and IIT Delhi Collaborate To  Drive Innovation In EV Powertrain Solutions