electric vehicle company Hailstone on Wednesday said it has started construction of a 100GWh gigafactory at its manufacturing facility in Tamil Nadu.
The company today installed the first pillar of its cell factory at Krishnagiri, Tamil Nadu.
A Gigafactory is a facility where devices and components related to electrification and decarbonization technologies are manufactured.
In February, Ola signed an MoU with the Government of Tamil Nadu for an investment of Rs. 7,614 crore for construction of electric cars, two-wheelers and Lithium Cell Gigafactory in the state.
Spread across 115 acres, the Ola Gigafactory is expected to begin operations early next year with an initial capacity of 5GWh (giga watt hours). This will be scaled up to 100GWh in phases, a company statement said.
Once operating at full capacity, the factory is claimed to be one of the largest cell manufacturing facilities in the world.
“It is a proud moment for us as we set up the first pillar of our Gigafactory today. Our Gigafactory will be a major milestone in India’s electrification journey, bringing us closer to making India global.” EV Hub,” said Bhavish Agarwal, founder and CEO of the company.
Ola has also invested in cell and battery research and development and has set up one of the advanced cell R&D facilities in Bengaluru.
As per the MoU signed with the state government, the company will set up an electric vehicle hub that will have advanced cell and electric vehicle manufacturing facilities, vendor and supplier parks and a large supporting ecosystem for electric vehicles under one roof.