Ola Electric seeks to indigenously assemble electric vehicles: Report

Ride-sharing company Ola's arm, Ola Electric, is planning to locally assemble its upcoming electric two-wheelers and it is in talks to onboard over 20 EV original equipment manufacturers (OEMs) including Bosch and Samsung, according to a report by The Mint.

The Ola's arm is in the process of finalising the structure of manufacturing the units, while also reducing the dependence of the global supply chains, in the backdrop of PM Modi’s Make In India push.

“Ola Electric is currently speaking to leading India-based OEMs, parts and components manufacturers. We have seen huge interest from global players to shift base from China and other markets, and the plan is to create an indigenous (manufacturing) capacity to locally manufacture 1 million EVs, mostly two-wheelers, in the next two years in India," a person aware of the development told the publication.

It is expected to roll out power-run two-wheelers in the European Market.

The startup is also looking at bringing a few global EV OEMs to set up shop and also manufacture in India, the person added.

Ola Electric, backed by Japan’s SoftBank, has already launched the EV bikes facility in the Netherlands. Ola Electric started in the Netherlands after purchasing the country’s electric two-wheeler startup, Etergo, for expansion purposes. Etergo will soon come to Asia, with India being the first country to have these EV two-wheelers.