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Ola - the Bangalore-based cab service is looking to expand its portfolio in the country. The app-based cab service will soon look to introduce self-driving car services across major cities in India.
ET Auto sources have confirmed that Ola is expected to receive $500 million in investment over the next few years from various mix of debt and equity. The app-based cab service will soon deploy over 10,000 vehicles, which includes SUVs and luxury sedans across major cities in India.
Ola representatives confirmed the same, stating, "On the basis of market feedback, we will pilot (the service) in various formats such as rentals, subscription and corporate leasing in select cities in the coming weeks."
An Ola company executive also confirmed to ET Auto, stating, "The self-drive car rental service will be launched in the coming weeks, with a focus on top five to seven markets." Once the new service has been launched in the market, Ola will become the largest self-drive car rental companies in the country. It will rival other small players in the segment, such as Zoomcar, Myles and Drivezy.
Ola, through the self-drive service also plans to offer customers subscription-based plans while also offering leasing options for corporate executives. The self-drive car service from Ola is part of its larger plans to offer a wide range of transport solutions in the Indian market. Ola is also working towards expanding outside cab services and include two-wheelers as well as electric vehicles.
Ola recently expanded its operations to the United Kingdom as well. The cab-service provider started operations of plying auto rickshaws in Liverpool, UK. This was however, amid a ban of Ola operations in its home-state of Karnataka; which has now been lifted — here are more details.
Thoughts On The Ola Self-Drive Car Service In India
Ola is one of the largest cab-service provider in the country. It rivals the likes of the American-based Uber services in India. With the new investment of $500million coming in over the next few years, Ola has big plans to expand into every possible transport solution in India, the latest being the self-driving car services. The new service will be introduced as a pilot in a few major cities in the coming weeks, before being available across the country.