{"id":425560,"date":"2021-07-13T08:42:25","date_gmt":"2021-07-13T03:12:25","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=425560"},"modified":"2021-07-13T09:35:31","modified_gmt":"2021-07-13T04:05:31","slug":"ola-electric-raises-100-mn-in-long-term-debt-from-bank-of-baroda","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/ola-electric-raises-100-mn-in-long-term-debt-from-bank-of-baroda\/","title":{"rendered":"Ola Electric raises $100 mn in long-term debt from Bank of Baroda"},"content":{"rendered":"<p>Ola Electric, the electric vehicles (EV) arm of cab aggregator Ola, on Monday announced that it had raised $100 million (Rs 744.5 crore) in long-term debt from Bank of Baroda.<\/p>\n<p>The company claimed this to be the largest long-term debt financing agreement for the Indian EV industry. This 10-year debt will be used in funding and financial closure of Phase-I of the Ola Futurefactory, Ola\u2019s global manufacturing hub for its electric two-wheelers. <\/p>\n<p>Last December, Ola had said it would invest Rs 2,400 crore in setting up Phase-I of the factory. Earlier this month, Ola CEO Bhavish Aggarwal had announced on Twitter that the factory\u2019s Phase-I was nearing completion and that the company&#8217;s electric scooters would soon hit the market.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ola Electric, the electric vehicles (EV) arm of cab aggregator Ola, on Monday announced that it had raised $100 million (Rs 744.5 crore) in long-term debt from Bank of Baroda. The company claimed this to be the largest long-term debt financing agreement for the Indian EV industry. This 10-year debt will be used in funding and financial closure of Phase-I of the Ola Futurefactory, Ola\u2019s global manufacturing hub for its electric two-wheelers. Last December, Ola had said it would invest Rs 2,400 crore in setting up Phase-I of the factory. Earlier this month, Ola CEO Bhavish Aggarwal had announced on [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,232],"tags":[],"class_list":["post-425560","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-power-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/425560","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=425560"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/425560\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=425560"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=425560"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=425560"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}