World’s largest scooter factory to be set up in Tamil Nadu by Ola

Highlights:

  • The SoftBank-backed mobility platform, Ola has signed a Memorandum of Understanding (MoU) with the Tamil Nadu government, to set up its first factory in the state, at an investment of Rs 2,400 crore.
  • Upon completion, the Ola factory in Tamil Nadu will be the largest scooter manufacturing facility in the world. 
  • Initially, the factory will have an annual manufacturing capacity of 2 million units.
  • It will make two million electric scooters at a greenfield facility in Hosur, Tamil Nadu. 
  • This would displace Honda's Vithalpur facility in Gujarat, which makes 1.2 million units of petrol-powered scooters a year.
What is Ola Cabs ?
  • Ola Cabs is an Indian ridesharing company offering services that include vehicle for hire and food delivery. 
  • The company is based in Bangalore, Karnataka, India and was developed by ANI Technologies Pvt. Ltd. 
  • It was founded on 3 December 2010, Mumbai
  • Headquarters : Bengaluru