OLAE SECURES $100 MILLION LENDER TO BUILD FUELFACTORY

 Imptag:Ola's electric scooter,ola's electric scooter,ola electric scooter plant,ola electric scooter dealership,ola electric scooter plant job vacancy,ola electric scooter plant location,ola electric scooter official website,ola electric scooter share price,ola electric scooter plant hosur,ola electric scooter launch date

Ola's electric scooter,ola's electric scooter,ola electric scooter plant,ola electric scooter dealership,ola electric scooter plant job vacancy,ola electric scooter plant location,ola electric scooter official website,ola electric scooter share price,ola electric scooter plant hosur,ola electric scooter launch date
Ola's electric scooter

Ola Electric, a fast-growing EV giant, has just announced a long-term financing deal with the Bank of Baroda, the largest in the Indian EV industry. They have agreed to a ten-year partnership, valued at $100 million USD. Ola's Futurefactory, a massive undertaking that aims to become the world's largest EV manufacturing facility, will receive the funding directly.

Bhavish Aggarwal of Ola said in GaadiWaadi, "Today's agreement between Ola and Bank of Baroda shows that our plans to build the world's largest two-wheeler factory in record time are in good hands.". It is our goal to accelerate the transition to sustainable mobility and manufacture made in India EVs worldwide, and we are delighted that Bank of Baroda is helping us in our quest."

OLA Futurefactory chairman and CEO Bhavish Aggarwal has some very lofty plans. Recent tweets by Ola Futurefactory CEO showcased the company's beginning of operations. Besides this, Aggarwal posted a video on the social media platform showing the prototype for the Ola Electric Scooter. Using the $100 million financing agreement signed between Ola Electric and the Bank of Baroda, Ola Futurefactory will complete Phase I of its mass production of the Ola Electric Scooter within this month. 

Ola's electric scooter will be launched in the Indian market later this month. On the basis of the Etergo AppScooter, Ola Electric bought the rights to the Dutch electric scooter platform. In addition, Ola's Futurefactory will produce electric cars for the global market and serve as Ola's global manufacturing hub for EVs. The facility is expected to produce 10 million vehicles a year, according to Ola Electric. Global expansion is the company's goal by 2022, including Europe, Latin America, Asia Pacific, and Australia. 


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