Ola had, in December last year, said it will invest Rs 2,400 crore for setting up phase I of the factory. “Today’s 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’s largest two-wheeler factory in record time. “We are committed to accelerating the transition to sustainable mobility and manufacture made in India EVs for the world,” Ola Chairman and Group CEO Bhavish Aggarwal said. Ola Futurefactory is coming up on a 500-acre site in Tamil Nadu.