Ola Electric’s Rs 7,614 Crore Investment in Tamil Nadu for EV Production

Ola Electric to Invest Rs 7,614 Crore in Tamil Nadu for EV Production

Ola Electric announces a significant investment of Rs 7,614 crore in Tamil Nadu for electric light motor vehicle production, aligning with the state’s new electric vehicle policy. This includes setting up lithium-cell manufacturing facilities with a capacity of 20 GW, creating 3,111 job opportunities.

The project comprises the construction of an electric vehicle cell plant and an electric 4-wheeler plant, both of which are to be established in SIPCOT Bargur, Krishnagiri district, giving rise to the creation of new employment opportunities for up to 3,111 individuals. This initiative is set to enable Tamil Nadu to transition into the electric vehicle capital of India, by capitalizing on its existing reputation as the nation’s automotive capital. Ola Electric, in particular, has unveiled ambitious plans for the Indian market, including the introduction of an array of electric cars and motorcycles, and the opening of 500 experience centers across India by March.

At a recently held event, the Chief Minister of Tamil Nadu, M K Stalin, inaugurated GX India Pvt Ltd’s state-of-the-art research and development center, a subsidiary of Europe-based GX Group, which has been established at an outlay of Rs 110 crore. The facility, poised to generate 110 new jobs in hi-tech engineering, comes as Europe’s market leader in fiber-to-the-home (FTTH) products. The event also witnessed the inauguration of the 200 TPD Ultra-high pure medical oxygen manufacturing unit by INOX Air Products at State Industries Promotion Corporation of Tamil Nadu (SIPCOT) in Hosur, Krishnagiri district, which has been set up at an investment of Rs 100 crore and will create 105 new jobs. In addition, the Chief Minister laid the foundation stone for the construction of the Mini Information Technology Park at Melmonavur, Abdullapuram in Vellore district. The four-storeyed Mini IT Park is to be set up at an investment of Rs 30 crore and will span across 60,000 sq ft land. This facility will provide young people, particularly women, with the opportunity to secure employment opportunities in their hometowns.

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