This is to provide vehicles on loans to 40,000 driver partners through financing worth $400 mn. Both companies have entered into a strategic alliance to provide “Mahindra-Ola” financing package for drivers. It will offer Mahindra brander cars at separate rates, loans with zero down payment from NBFCs, subsidized insurance premiums, and vehicle maintenance packages.
It will be integrated with Ola Micro service. All TaxiForSure drivers and driver-partners are now integrated into Ola ap. The integration process has been going for the past 18 months.
This is to offer Ola’s drivers to offer business and need-based loans of up to Rs 100,000, only for its ‘Ola Star’ or top rated drivers in Mumbai and Bangalore. FlexiLoans plans to partnemall business loans in the last 6 months, and claims to have a turnaround time of less than 2 days.
This can be done for local and outstation travel and has happened through a partnership between Ola Cabs and Via.com. Ola is essentially opening up its services by integrating its API into Via.com, allowing the latter’s customers to access cab booking, availability, estimation and tracking across categories, directly on the Via.com app and website. Ola had opened up its API to developers in September last year.
Ola has signed an MoU with the state to create 10,000 driver-entrepreneurs. It is currently present in five cities in Gurgaon, Faridabad, Panchkula, Kurukshetra and Ambala. Ola plans to introduce its other mobility solutions Ola Auto, Ola Share, Ola Shuttle and Ola Bike, across the state.
ANI Technologies Limited, engaged in providing mobile app- based technological platform by the name of Ola Cabs, submitted this in its counter to a petition by rival Uber India Technologies Private Limited challenging the Karnataka On-Demand Transportation Technology Aggregator Rules, 2016.
The company had earned increased revenue of Rs 421 Cr for the same FY, which operates in 100 Indian cities.
This happens after Ola was able to meet the conditions of the new guidelines for cab aggregators. This makes Ola the first cab aggregator to operate legally in the state. The company was able to obtain the license after registering and providing the necessary information of 100 vehicles to the transport department.
Uber still charges a base fare of Rs 40 for rides on UberGo. This move brings Uber in line with Ola’s cheapest service Ola Micro which it introduced in February. Ola Micro charges Rs 6 per kilometer and a base fare of Rs 45.
This is by offering shared rides on its platform to people in the city. With this, Ola has helped keep 3,75,090 vehicles off the road in Mumbai, since its launch in February 2016. Ola Share also helped bring down CO2 emission levels by 7,05,660 kilograms as well as saving 2,94,024 litres of fuel across the city.