{"id":425566,"date":"2021-07-13T08:41:26","date_gmt":"2021-07-13T03:11:26","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=425566"},"modified":"2021-07-13T09:35:04","modified_gmt":"2021-07-13T04:05:04","slug":"ola-electric-raises-100-million-long-term-debt-to-build-mega-factory","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/ola-electric-raises-100-million-long-term-debt-to-build-mega-factory\/","title":{"rendered":"Ola Electric raises $100-million long-term debt to build mega factory"},"content":{"rendered":"<p>Ola Electric and Bank of Baroda on Monday signed the biggest long-term debt financing agreement in the Indian electric vehicle (EV) space. This 10-year debt of $100 million is towards funding and financial closure of phase 1 of the Ola Futurefactory, Ola\u2019s global manufacturing hub for its electric two-wheelers.<\/p>\n<p>Ola had announced in December 2020 that it will be investing Rs 2,400 crore for setting up phase 1 of the factory. <\/p>\n<p>\u201cToday\u2019s (Monday\u2019s) agreement for long-term debt financing between Ola and Bank of Baroda signals the confidence of the institutional lenders in our plans to build the world\u2019s largest two-wheeler factory in record time,\u201d said Bhavish Aggarwal, chairman and group CEO, Ola.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ola Electric and Bank of Baroda on Monday signed the biggest long-term debt financing agreement in the Indian electric vehicle (EV) space. This 10-year debt of $100 million is towards funding and financial closure of phase 1 of the Ola Futurefactory, Ola\u2019s global manufacturing hub for its electric two-wheelers. Ola had announced in December 2020 that it will be investing Rs 2,400 crore for setting up phase 1 of the factory. \u201cToday\u2019s (Monday\u2019s) agreement for long-term debt financing between Ola and Bank of Baroda signals the confidence of the institutional lenders in our plans to build the world\u2019s largest two-wheeler [&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-425566","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\/425566","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=425566"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/425566\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=425566"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=425566"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=425566"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}