Yong S Kim will take on the pivotal role of developing business at Ola Electric. The EV maker has serious plans for the Indian market and has recently initiated the set up of the world’s largest two-wheeler manufacturing plant in the Krishnagiri district of Tamil Nadu.
Ola electric has termed the mega factory as ‘Future Factory’ and is slated to be operational next year, and shall have an annual installed production capacity of 10 million units. Ola is investing Rs.2400 crore in the first phase, to churn out 10 million a year by 2022. More than 90% of the components will be co-located. There will be 90% of localization of the core parts including battery and motors. And 3000 robots will be used to increase efficiency. It will also invest heavily in building up pan-India charging stations and also a cell plant, to power lithium-ion batteries.
Mr. Yong S Kim has extensive experience in the Indian market and was a part of the team which established Hyundai Motor India and was instrumental in the highly successful launch of the Kia brand in India. He had led Kia’s drive up to the fifth spot in the Indian passenger vehicle (PV) market in a very short span of time. The Korean ex-pat had moved out of India, in January 2020 last year to a new role at the Korean OEM’s headquarters in Seoul. Kim's exposure in the global auto industry and a good understanding of the Indian market would be valuable for Ola Electric’s grounds-up, all-new venture.
Yong Kim’s appointment will be vital for the new EV maker’s strategy to play a significant role in this market, and possibly overseas too.