Ola to launch self-drive service, to invest $500 million – Indiatimelines

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Ola to launch self-drive service

Ola to launch self-drive service- Bengaluru: About the Company’s plan, two people are directly aware that the Homegarden  Ride-Healing platform OLA will invest more than $500  million for the purpose of widening its portfolio of transport solutions. According to one person, the investment will in the next few years by Mixing debt and equity. Ola said that around 10,000 vehicles, including luxury sadan and SUVs, will be deployed in major cities in the coming months. Confirming the plan to check the offer of the self-drive offer, the Ola representative said, “ in the coming weeks we will be pilot (in various forms)  in the form of rental, membership and  Corporate lease in select  cities.”

People familiar with the plans of the Company told that there is a possibility of Raising loans through Ola fleet technologies to make the new business of Ola to seed. So far, the Multi-Modal

Ola to launch self-drive service, to invest $500 million

Transport Company has relied on equities to some of the world’s largest investors, including Japan’s SoftBank and American investment firm Tiger Global, for rapid development in the Country.

The Bangaluru-based Company, which has so far raised $ 3.36 billion, In February during its Funding Round, its value was approximately $ 6 billion. Earlier this Month, Ola, who competes with the US Ride-Hilling flagship Uber in India, said it had raised $ 300 million from Hyundai Motor and Kia Motors because it was to build India-specific mobility solutions. South Korean auto cooperates with big companies.

The scope of the proposed service will make Ola the largest self-drive car rental company in India. Currently, there are small regional players and some big players in this field, including Miles, Sequoia Capital-supported zoomers, and Y Combinator supported drives.

With self-drive business, through the offer of Ola Corporate, it is intended for corporate officers to create subscription products for consumers and lease services, one of the above said. The step to enter the self-drive rental category is in conformity with Ola’s comprehensive strategy, in which to increase scooter and electric vehicles in order to ensure sustainability and positive unit economics, expand its bouquet of transport solutions beyond the cab. In the past few years, the company has started such businesses which increase the higher margins like rent. For more updates, you can visit www.indiatimelines.com.

Invests $500 Million, Ola to launch self-drive service

Last year, Ola started making money on every cab ride – after taking into account the expenses of a major landmark – driver incentives and customer discounts.

Ola to launch self-drive service, Experts are of the opinion that instead of being disturbed by car ownership, more travelers will choose from shared, self-drive fares or membership-based mobility options. However, there should be flexible rental options in self-drive car rental services, which can range from hours to days, and can be available 24 × 7 through mobile apps, he said. Vinay Piparsania, Counterpoint Research, Counterpoint Research said, “They are far cheaper than now and offer local support with the ecosystem of convenient pick-up and drop-off points.”

In February, Ola confirmed funding of Rs 650 crore from Flipkart co-founder Sachin Bansal. Steadview Capital and Raymond S Cahnman, President of Transmarket Group, philanthropists Tina and Steven Price, a group of Chinese investors like J3T Ventures and Lyon Assets, as well as participants in the company’s latest round. Separately, the company’s Electric Mobility Branch raised Rs 400 crore from other investors with Matrix Partners India and Tiger Global.

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