Led by Bhavish Aggarwal, the electric mobility business is a follow-up to startup Ola, which is expected to make its debut in public markets next year.
The vision of his new company is to provide the world with “clean mobility, a negative carbon footprint and an inclusive workforce,” said the founder.
The first batch of workers began this week at the Krishnagiri factory, about 2.5 hours southeast of Bangalore, which will cost $ 330 million to complete.
“At full capacity, Futurefactory will employ more than 10,000 women, making it the largest women-only factory in the world and the only women-only car manufacturing plant in the world,” she wrote in a blog on Monday. .
Backed by SoftBank Group Corp and Tiger Global Management, Wave Electric is looking to launch a scooter every two seconds after completing a planned expansion next year.
The factory will be substantially automated and will include 3,000 robots that will work alongside the female workforce.
Aggarwal’s goal is to eventually assemble a full line of electric vehicles, including tricycles and cars. Ola’s inaugural S1 e-scooter will be priced at Rs 99,999 ($ 1,360) to compete with traditional two-wheelers in India. Exports will start at the end of this year.
“Enabling women to have economic opportunities improves not only their lives, but also that of their families and, indeed, that of the entire community,” said Aggarwal.
The participation of women in the local manufacturing industry is only 12% and “for India to be the center of global manufacturing, we must prioritize the improvement of skills and the generation of employment for our female workforce,” said the founder in the blog.