Ola Electrics to acquire 1500 acres land
Electric vehicle (EV) maker Ola Electrics is set to acquire around 1500 acres of land in Tamil Nadu to set up an electric vehicle factory. The state government of Tamil Nadu has approved Ola's plan to acquire the land and it might become one of the biggest deals for a factory in the Indian automobile industry.
As per reports Ola already has around 500 acres in the area and is now adding a much bigger land parcel of 1,500 acres as it looks to not only expand the capacity of its electric two-wheelers business but also look at making electric cars as well as batteries in the area. The announcement about it might be made by Ola CEO Bhavish Aggarwal in the next few days.