Ola Cabs to exit international markets; to focus on India

Ola Cabs will shut down its operations in the UK, Australia and New Zealand on April 12, 2024.

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