[anjan_c2007]

Ride-hailing aggregator Ola cabs has decided to shut down its international operations "in its current form" amid the cab aggregator's push for expansion of electric fleet in India. Ola has exited from its operations in New Zealand, Australia and the United Kingdom (UK). They began operations in the U.K. , Australia and New Zealand in 2018. An email was sent to its drivers asking them to remove all Ola-related labels and to stop taking bookings under its permits from April 12.

Ola is leading the cab aggregator's business segment in India and according to the company, it would from now on concentrate on its India operations.

The cab aggregator will pursue the opportunity for expansion of an electric future in India, and to prioritise this, Ola has decided to exit international markets.

"The future of mobility is electric - not just in personal mobility, but also for the ride-hailing business and there is immense opportunity for expansion in India. With this clear focus, we’ve reassessed our priorities and have decided to shut down our overseas ride-hailing business in its current form in the UK, Australia and New Zealand," the spokesperson said.

"We remain very excited and focused on our mission to serve 1 billion Indians. As a technology-first business, leading with innovation, we are confident to spearhead the country’s mobility ambitions and lead the next phase of growth in the industry at large," the Ola Mobility Spokesperson added.

The link:-
https://www.livemint.com/companies/n...663154786.html

[TusharK]

Ola Cabs plans to exit international markets to focus on its India business. According to media reports, Ola Cabs will shut down its operations in the UK, Australia and New Zealand on April 12, 2024.



“The future of mobility is electric – not just in personal mobility, but also for the ride-hailing business and there is immense opportunity for expansion in India,” a spokesperson said. “With this clear focus, we’ve reassessed our priorities and have decided to shut down our overseas ride-hailing business in its current form,” he added.

Hemant Bakshi, CEO of Ola Cabs, had stated that the company would focus on electrification of its fleet and premiumization of its offerings. Currently, Ola has about 8,000 electric scooters in its fleet. The company plans to electrify its entire 3-wheeler and 4-wheeler fleet in the years to come.

Source: ET Auto

Link to Team-BHP News

[anjan_c2007]

They talk of exiting the three lucrative markets in developed countries. There could be hidden narratives making them decide to leave these markets. Its surely a case of more than meets the eye. Ola's profits could be dwindling in these markets triggering the pack-up. Or else, which businessman on the earth would quit when the going is good or too good. Ola says it wants to concentrate on the Indian market from now on. Evidently they are doing well here.

Like electrification of rail tracks was once a rage, electrification of wheels is the present day rage, where Ola excels in India, today.