Debt

Debt Financing

Ola Electric raises $100-M from Bank of Baroda

Press Release  

Ola Electric and Bank of Baroda have signed a pact for a 10-year debt of USD 100 million towards the funding and financial closure of the Phase 1 of the Ola Futurefactory, Ola's global manufacturing hub for its electric two-wheelers. The factory is coming up on a 500-acre site in Tamil Nadu. At a full capacity of 10 million vehicles annually, it will be the world's largest two- wheeler factory.