Ola Electric to invest Rs 7,614 crore in Tamil Nadu for car production
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Ola Electric Mobility Pvt Ltd has committed an investment of Rs 7,614 crore by signing a memorandum of understanding (MoU) with the Tamil Nadu government in the presence of Chief Minister MK Stalin. The project involves setting up an electric vehicle cell plant and an electric four-wheeler plant at Bargur ‘SIPcot’ in Krishnagiri district.
Chennai. Electric vehicle firm Ola Electric has committed an investment of Rs 7,614 crore in Tamil Nadu to introduce electric car vehicles. Giving this information, the Tamil Nadu government said that the company will set up a lithium-cell manufacturing unit with a capacity of 20 GW. The total investment of the company will generate 3,111 new jobs in the state. The state government recently unveiled its electric vehicle policy, which aims to boost the electric vehicle industry, attract investment of Rs 50,000 crore and create 1.50 lakh jobs.
According to an official release, Ola Electric Mobility Pvt Ltd has committed an investment of Rs 7,614 crore by signing a Memorandum of Understanding (MoU) with the Tamil Nadu government in the presence of Chief Minister MK Stalin. Guidance Tamil Nadu, the nodal agency set up to boost investment, said, “The project involves setting up an electric vehicle cell plant and an electric four-wheeler vehicle plant at Bargur ‘SIPcot’ in Krishnagiri district, which will provide employment to 3,111 people.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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