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Tamil Nadu government on Monday signed 18 MoUs worth Rs 19,955 crore with an employment potential of 26,509 persons. Companies which signed the MoU include the Crown Group Of Companies, representing a Russian defence organisation, Ola Electric and Mahindra CIE among others. The MoUs were signed in the presence of Tamil Nadu Chief Minister K Palaniswami. Ola Electric will invest Rs 2,354 crore, Torrent Gas - Rs 5,000 crore, First Solar - Rs 4875 crore, SSEM - Rs 2,500 crore, Crown - Rs 2,500 crore, Tata Group s Voltas - Rs 1,001 crore and Mylan - Rs 350 crore among others. Ola Electric Mobility has created a revolution in the India and a consumer friendly electric vehicle business model. The company recently acquired Amsterdam-based Etergo BV. The company has proposed to set up an electric two-wheeler manufacturing unit in Hosur, Krishnagiri District. The company plans to invest Rs 2,354 crore in ghe project, which has an employment potential of about 2,182 persons.

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