Ola Ride-Hailing App to Open

Indian ride-hailing app Ola to open a £100m electric car facility in Coventry.

12:05 25 February 2022

Indian ride-hailing app Ola has confirmed plans to open a £100m electric car facility in Coventry. The tech and scooter maker's research and development facility is a significant boost to the UK auto industry. 

 

Ola is pushing into electric vehicles with a recently launched road-going scooter and a planned electric car. The new facility will create 200 jobs in design and engineering. 

 

Ola, which was founded in 2010, is currently the world's third-largest ride-hailing app. The company's electric vehicle arm, Ola Electric, has recently raised $200m in funding from previous backers, including Softbank. It is also reportedly planning a stock market float to raise as much as $2bn. 

 

Bhavish Aggarwal, Ola's founder, said: “Ola Futurefoundry will enable us to tap into the fantastic automotive design and engineering talent in the UK to create the next generation of electric vehicles. Futurefoundry will work in close collaboration with our headquarters in Bangalore, India, to help us build the future of mobility as we make electric vehicles affordable across the world.”