Many excavators and workers were busy at the construction site to build the Ola Futurefactory for electric vehicles. Among them was Aggarwal, who like other workers was wearing safety boots, a hard hat, a reflective vest and sunglasses. Playing the Punjabi hip-hop song Satisfya, Aggarwal was testing a black prototype of Ola's electric scooter. A lot has changed since then.
The Ola Futurefactory has become the largest integrated and automated electric two-wheeler manufacturing plant in India.
The facility, built in eight months, achieved an installed capacity of one million units per year by October last year.
"There's a lot of opportunity to build the future of energy here in India. There are companies like Tesla which are doing a lot in the Western world. But the world can't achieve its sustainable aspiration without India building a sustainable future as the country is about 20 per cent of the world population," said Aggarwal.
He added, "Our vision at Ola Electric is to make India a core part of the global energy revolution. There is an opportunity for the whole industry. The solutions that need to be built for India are relevant for the Global South. Very few people buy luxury cars in this region. The opportunity is to accelerate the electric transition in India and become global leaders in this space."
This story is from the July 01, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the July 01, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Tyger Cap to list by next year, eyes ₹20K crbooks
Bain Capital-backed Tyger Capital is planning to list on the stock exchanges by the next financial year and is targeting to grow its assets under management by four times to ₹20,000 crore in five years from ₹5,000 crore now, said MD & CEO Gaurav Gupta.
Bank margins may feel the heat
Cost of deposits likely to show impact in Q1
Policy on farmer producer units for cheaper loans
Suggests making Amul-like three-tier institutional architecture for FPOS
DPIIT recommends angel tax removal
Ahead of the Union Budget, the Department for Promotion of Industry and Internal Trade (DPIIT) has recommended removal of the contentious angel tax, in line with the demand from the industry.
Govt to extend easy visa rules to all PLI sector companies
The government is working towards streamlining the application process for Indian business visas for companies that are not beneficiaries under the production-linked incentive (PLI) scheme but have set up manufacturing units across the 14 sectors covered under the scheme.
RBI to hear out demands of MSMEs ahead of Budget
Central bank wants to understand initiatives that may be viable for the sector
Modi to visit Russia, Austria from July 8-10
Prime Minister Narendra Modi will pay a visit to Russia from July 8 to 9 to hold the 22nd India-Russia annual summit that will review the entire range of multifaceted ties between the two countries, the Ministry of External Affairs (MEA) announced on Thursday.
Pay salaries or face audit: NCLT to Byju's
The National Company Law Tribunal (NCLT) asked Byju's on Thursday to pay salaries to its employees regardless of whether the cash-strapped edtech firm had access to the funds raised through its rights issue.
Tata Hitachi reaps rich harvest, from field to factory
It was the summer of 2006 (May 18).
IDEMIA eyes auto space for SIM drive
French technology giant IDEMIA, which manufactures digital and physical SIM (subscriber identity module) platforms and other identityrelated security services, plans to move aggressively into the automotive space in India.