Home-grown Ola Electric on Saturday pledged to invest Rs 7,614 crores over the next five years to manufacture cells that go into electric vehicles (EV) and four-wheelers by expanding the Ola Future Factory at Pochampalli in Tamil Nadu’s Krishnagiri district, providing jobs to over 3,000 people.
The fresh commitment by Ola, which has already invested Rs 2,400 crore in the Pochampalli facility that currently rolls out two-wheelers, comes as a major boost to Tamil Nadu, which had earlier this week released an exclusive policy for EVs with a special focus on advanced cell manufacturing with an intention to emerge as India’s EV capital. The state government is also projecting Hosur-Dharmapuri-Krishnagiri (HDK) region as the state’s EV hub.
