Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Google
Web www.equitybulls.com
Stock Report

| More

OLA to deploy ABB robotics and automation solutions at its mega-factory for electric scooters

Posted On: 2021-02-10 23:46:59 (Time Zone: Arizona, USA)


Ola, one of the leading mobility companies in the world, today announced that it has selected ABB as one of its key partners for robotics and automation solutions for its mega-factory in India that will roll out the much-anticipated Ola electric scooter. Ola's scooter mega-factory, billed to be the world's largest scooter factory, is expected to be ready and operational in the coming months.

Ola will utilise ABB's automation solutions in its factory's key manufacturing process lines, including its painting and welding lines, while the ABB robots will be deployed extensively for the battery and motor assembly lines. These include ABB's "IRB 5500" paint and "IRB 2600" Integrated Dressing robots in its painting and welding lines, and "IRB 6700" robots for assembly and material handling in the battery and motor assembly areas.

ABB robots will be digitally integrated into Ola's AI-enabled mega-factory, to optimize robot performance, productivity and product quality. The use of ABB's robots and automation solutions will ensure remote digital connectivity and monitoring of the robots that will ride on Ola's proprietary AI engine and tech stack.

Announcing the agreement, Bhavish Aggarwal, Chairman and Group CEO, Ola, "We are delighted to bring on board ABB, a global leader in robotics, machine automation and digital services, as a key supplier and partner for robotics and automation solutions that will be deployed at our scooter mega-factory. ABB's solutions will be riding on Ola's own proprietary AI engine and tech stack embedded in our scooter mega-factory. We are bringing in global expertise and stitching up partnerships that will help us build out our factory in record speed and roll out the first of our electric scooters in the coming months".

Commenting on the partnership, Sanjeev Sharma, Managing Director, ABB India and South Asia, said, "We are privileged to be an end to end partner of OLA Electric and contribute to the EV vision of this pathbreaking company and of our nation. ABB's sustainable robotics automation solutions will complement the vision to build this mega factory to further the EV journey of our country. Our integrated automation package with digital connectivity, riding on OLA's AI platform will be instrumental in the roll out of these world-class scooters for India and the rest of the world. Increased automation and robotics to make shop-floors safer, more productive and of impeccable quality will fasttrack India's transition to one of the leading agile, self-reliant and high-tech manufacturing economies of the world."

Ola is building its mega-factory on Industry 4.0 principles and to be powered by its own proprietary AI Engine and tech stack that will be deeply integrated into all its systems, continuously self-learning and optimising every aspect of the manufacturing process. This will provide unprecedented control, automation and quality to the entire operations, especially with Ola's implementation of cyber-physical and advanced IoE systems.

With an initial annual capacity of 2 million units, Ola's mega-factory will create 10,000 jobs and serve as the company's global manufacturing hub for both India and international markets across Europe, UK, Latin America, Australia and New Zealand. The mega-factory is also expected to be the country's most automated, with about 5,000 robots and automated guided vehicles in use once the factory is fully operational to its full capacity.

Shares of ABB India Limited was last trading in BSE at Rs.1445 as compared to the previous close of Rs. 1462. The total number of shares traded during the day was 18025 in over 1918 trades.

The stock hit an intraday high of Rs. 1483 and intraday low of 1430.8. The net turnover during the day was Rs. 26284690.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com


Other Headlines:

Sun Pharma Advanced Research Company Limited board to consider Q4, FY21 results on May 17, 2021

Maruti Suzuki boosting manufacturing of Oxygen PSA generator plants

Kriti Industries India Ltd board to approve Q4, FY21 results, dividend on May 15, 2021

Sun Pharma Advanced Research Company Limited board to consider fund raising proposal on May 12, 2021

Texel Industries Ltd board approves rights issue to raise Rs. 20 crores

Thyrocare Technologies Ltd Q4FY21 consolidated PAT up at Rs. 37.75 crore

Just Dial Ltd board to consider Q4, FY21 results on May 14, 2021

Thyrocare Technologies Ltd board recommends dividend of Rs. 15

Jubilant Pharma wins over Bracco's Legal appeals in the United States Court of Appeals

IDFC First Bank Ltd reports Rs. 136.92 crore consolidated PAT in Q4FY21

Indag Rubber Ltd board recommends final dividend of Rs. 1.50

HDFC to sell 0.62% stake in HDFC ERGO

The Federal Bank Limited board to consider Q4, FY21 results, dividend on May 17, 2021

TTK Prestige Ltd to shutdown Coimbatore, Hosur plants due to lockdown announced by TN Government

Maruti Suzuki extends maintenance shutdown till May 16, 2021

T T Limited announces cancellation of MOU for sale of Spinning Mills

Indag Rubber Ltd posts Rs. 1.46 crore consolidated PAT in Q4FY21

Yaarii Digital Integrated Services Limited Q4FY21 consolidated loss at Rs. 11.72 crore

SORIL Infra Resources Ltd posts consolidated PAT of Rs. 0.40 crore in Q4FY21

Triveni Turbine Ltd approves reappointment of Mr. Nikhil Sawhney as MD

DCB Bank Ltd Q4FY21 net profit slips QoQ to Rs. 77.91 crore

Avenue Supermarts Ltd reports earnings for Q4, FY21

Welspun India Ltd Board to consider FY21 results, Dividend & Buyback of Equity Shares on May 14, 2021

Vardhman Acrylics Ltd Q4FY21 PAT jumps to Rs. 22.93 crore

Bandhan Bank Ltd Board recommends Dividend of Rs. 1 for FY21

Seshasayee Paper and Boards Ltd Board approves Dividend of Rs. 2.50

Nitin Spinners Ltd Board recommends Dividend of Rs. 1.50

R.S. Software (India) Ltd board to approve Q4, FY21 results on May 19, 2021

Aarti Drugs Ltd board to consider Q4, FY21 results on May 15, 2021

Lotus Eye Hospital and Institute Ltd to operate with minimum staff due to second wave Covid-19

Avenue Supermarts Ltd posts Rs. 413.88 crores consolidated PAT in Q4 FY2020-21

Bandhan Bank Ltd reports Rs. 103.03 crore net profit in Q4 FY2020-21

CSB Bank Ltd Q4FY21 net profit at Rs. 42.89 crore

Seshasayee Paper and Boards Ltd Q4FY21 consolidated net profit rises to Rs. 63.61 crore

Nitin Spinners Ltd posts jump in Q4FY21 PAT to Rs. 42.85 crore

Aditya Birla Capital Ltd board to approve FY21 results on May 14, 2021

Quick Heal Technologies Ltd board to announce dividend, Q4, FY21 results on May 15, 2021

Suraj Ltd board to consider Q4, FY21 results on May 17, 2021

AYM Syntex Ltd board to consider Q4, FY21 results on May 15, 2021

ICRA reaffirms rating of V-Guard Industries Limited

SKP Securities Ltd posts Rs. 1.18 crore PAT in Q4FY21

Ultratech Cement Ltd posts Rs. 1775.23 crores consolidated PAT in Q4FY21

Reliance Power Limited reports earnings for FY21

S.P. Apparels Limited closes retail outlets temporarily

UltraTech Cement Limited board recommends dividend of Rs. 37

Sutlej Textiles & Industries Ltd Board recommends Dividend of Rs. 0.30

Cholamandalam Investment and Finance Company Limited board recommends final dividend of Rs. 0.70

Navin Fluorine International Ltd board recommends final dividend of Rs. 6

Everest Industries Limited appoints Mr. Pramod Nair as CFO

CAMS - India's Largest RTA - lists on NSE


Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020