On Thursday, October 26, Ola Electric announced that they have secured the funding of 3200 INR-Crore from Temasek-led investors and the State Bank of India. This investment will be used for the setting up of India’s first lithium-ion cell manufacturing facility in Tamil Nadu as well as for the expansion of Ola’s EV business.
The Lithium-ion facility will be based in Krishnagiri, Tamil Nadu and will contribute towards India’s journey of becoming a global EV hub. The EV manufacturing company aims to end the International Combustion Engine (ICE) age in automobiles with the construction of this facility.
Also Read: World’s upcoming largest museum – Yuge Yugeen Bharat National Museum, Delhi
Ola Electric has been awarded the capacity of 20 Gwh under the government’s ambitious cell PLI program. The company aims to accelerate its growth by increasing its two-wheeler manufacturing capacity, launching electric motorcycles; along with electric cars and fast-tracking the construction of its gigafactory.
Biltrax Construction Data is tracking 26,000+ projects on their technology platform for their clients.
Get exclusive access to upcoming projects in India with actionable insights and gain a competitive advantage for your products in the Indian Construction Market.
Visit www.biltrax.com or email us at contact@biltrax.com to become a subscriber and generate leads.
Disclaimer: The information contained herein has been compiled or arrived at, based upon information obtained in good faith from sources believed to be reliable. All such information and opinions can be subject to change. The image featured in this article is for representation purposes only and does not in any way represent the project. If you wish the article to be removed or edited, please email editor@biltrax.com.
0Discover more from Biltrax Media, A Biltrax Group venture
Subscribe to get the latest posts sent to your email.
