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Ola Electric is looking for land to establish a cell and electric car units and the company is in talks with various states for the same. The company needs around 1,000 acres of land for the factory and it anticipates an investment of Rs 10,000 crore.
Ola Electric is in discussions with the government of Gujarat, Maharashtra, Tamil Nadu, Telangana, and Uttar Pradesh for the acquisition of land and will finalize it by next month.
The company already has a 500-acre two-wheeler factory in Krishnagiri, Tamil Nadu. In December 2020, the company started manufacturing electric scooters in this factory.
Ola Electric was one among the 10 other companies that submitted a bid under the ACC Batter Storage Programme in India with a budget of Rs 18,100 crore.
Also, it is the only Indian company that was selected for the PLI scheme by the government. Ola Electric also plans to launch its first electric car in two to three year.