Ola Electric signs pact to raise $100 million in long-term debt
The Hindu
The 10-year debt of $100 million is towards the funding and financial closure of phase I of Ola Futurefactory — its global manufacturing hub for electric two-wheelers, a statement said.
Ola Electric on July 12 said it has signed a $100 million (about ₹744.5 crore) 10-year debt financing agreement with Bank of Baroda. The 10-year debt of $100 million is towards the funding and financial closure of phase I of Ola Futurefactory — its global manufacturing hub for electric two-wheelers, a statement said. Ola had, in December last year, said it will invest ₹2,400 crore for setting up phase I of the factory.
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