Use UNICORN Signals App By EquityPandit
INDIA

Ola to Build ‘India’s Most Advanced EV Manufacturing Hub’ in Tamil Nadu

Ola on Wednesday announced that it has joined hands with Siemens to build India’s most advanced electric vehicle manufacturing facility in Tamil Nadu. Last month, the popular ride-hailing platform signed a 2,400-crore-deal with the Tamil Nadu government to set up its first factory in the state. Upon completion, the factory will create almost 10,000 jobs, the company claimed.
The manufacturing hub in the southern state will be the world’s largest scooter manufacturing facility, which will initially have an annual capacity of 2 million units. The facility will serve as Ola’s global manufacturing hub catering to its customers in India as well as key markets across Europe, United Kingdom, Latin America, and ANZ.
Built on Industry 4.0 principles, the factory will be the most advanced manufacturing facility in the country. Around 5,000 robots will be deployed across various functions. Under the partnership, “Ola will have access to Siemens’ integrated Digital Twin design and manufacturing solutions to digitalize and validate product and production ahead of actual operations,” the company said.
Commenting on the partnership, Bhavish Aggarwal, chairman, and group CEO, Ola, said, “This will be our global hub and will set a benchmark in quality, scale, and efficiency, demonstrating India’s capability to build world-class cutting edge products. We look forward to bringing this factory online in the coming months and putting our products in the hands of customers.”
“We are proud to contribute to Ola’s vision of creating a factory of the future using our automation and digitalization expertise to ensuring the highest levels of productivity and quality while enabling an agile and flexible production process,” Sunil Mathur, MD & CEO, Siemens India, said.

Get Daily Prediction & Stocks Tips On Your Mobile


Latest
IPO
Weekly
Outlook

Stock
Market
Prediction