Ola to launch self-drive business

According to a media report, cab aggregator Ola is entering the self-drive business with an investment of US$ 500 million.

Ola will launch a pilot service with around 10,000 vehicles including luxury sedans and SUVs in select cities in the coming weeks. The company will test out various formats including rental and subscription-based products as well as leasing services for corporates.

Currently, self-drive rental services are offered by Zoomcar, Myles and Drivezy. Reports suggest that Ola plans to focus on the top 5-7 markets, however the scale of service would make it the largest self-drive rental company in India. 

Earlier this month, Hyundai and Kia announced an investment of US$ 300 million in Ola. Flipkart co-founder Sachin Bansal has also invested Rs. 650 crore in the ride-hailing company.

Source: Economic Times