Ola Electric to invest INR 7,600 Cr in TN for EV and cell factories.

Ola Electric, a company led by Bhavish Aggrawal, has announced plans to invest slightly more than INR 7,600 Crores in the next five years to establish manufacturing plants in Tamil Nadu.

This decision follows the signing of a Memorandum of Understanding (MoU) with the Tamil Nadu government, as reported by ET.

This move will help the company to expand its EV manufacturing capabilities and compete in the growing Indian market.