BackIndia has potential to become global EV manufacturing hub: Ola CEO
Mission Electric will accelerate this transition, says Ola CEO Bhavish Aggarwal.
PremiumCab-hailing firm Ola Co-founder and Chief Executive Bhavish Aggarwal today said India has the potential to become a global EV (electric vehicle) manufacturing hub. He also said “Mission Electric" will accelerate this transition in the country.
Aggarwal was reacting to Niti Aayog CEO Amitabh Kant's tweet, who congratulated Ola for setting up the “most advanced, sustainable, all women 2W factory in India".
"Delighted to interact with @bhash & experience #OLA’s EV 2W. Congratulations for establishing the most advanced, sustainable, all women 2W factory in India. The future is shared, connected & electric. Wish you the best in catalysing this new era," Kant tweeted.
Ola, which is eyeing a public listing by the first half of 2022, on Thursday announced to have raised $500 million via a Term Loan B (TLB) from marquee international institutional investors.
The company said it received interest worth $1.5 billion from institutional investors for the proposed loan issuance. Ola will use the funds to fuel its vision for the future of mobility across its various verticals in India.
The company had recorded its first ever profit in FY21 by recording an operating profit of ₹89.82 crore vs ₹610.18 crore operating loss in the previous fiscal.
Also read: Ola raises $500 mn via Term Loan B
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