Contrary to what it looks like, Tesla’s entry in the Indian electric vehicles market is a lottery for emerging players like Ola Electric.
By the beginning of April, many major startups and unicorns started feeling the heat of a cash crunch. Their businesses were hit severely by the imposition of lockdown. Due to the two-month-long lockdown across the nation, the revenue of these startups has received a major blow.
India’s leading indigenous cab aggregator Ola’s CONNECTS platform offers crucial technological capability to state governments’ effort to ensure infection-free supply chains of essentials during the COVID-19 lockdown.
Lately, Apple Central Taxis, one of the car mobility service platforms in Exeter, entered a merger with Z-Cars to fight against the rival, India’s gigantic car mobility platform, Ola Cabs. This information is as per the reports by Devon Live.
Despite narrowing losses and strong financials, Ola Cabs is undergoing significant restructuring which may include mass firing as part of the process.
With aggregated data of how Indians travelled this year, the ‘Ola Hyperdrive 2019’ infographic offers a glimpse into the travel patterns of Ola customers across different categories like Ola Share, Ola Outstation, Ola Bike, Ola Auto and Ola Prime Play.
With electric cabs, Ola plans to leverage its scale to bring out safer, cleaner and more environmentally friendly ‘Tesla’-like version of cab-hailing in the market.
FM Nirmala Sitharaman kicked up a storm with her statement that the millennial mindset of using services such as Uber and Ola instead of purchasing vehicles had contributed to the auto sector slowdown.
Uber again missed revenue expectations and reported a record loss of $5.24 billion in the last quarter, but while CEO and investors don’t care, this is a trajectory it will find hard to shed.
The Motor Vehicles Act, 1988, did not recognize cab aggregators as separate entity, after amendment the government will have the power to frame rules to regulate Ola, Uber and other app-based cab services and radio taxis.