Ola To Enter Self-Drive Rental Category, To Invest $500 Mn in Deploying 10,000 Cars

Ola To Enter Self-Drive Rental Category, To Invest $500 Mn in Deploying 10,000 Cars

  • Indian cab-hailing firm Ola is all set to launch a 'self-drive' service in order to widen its portfolio of transportation solutions and for same the company will invest over $500 million to deploy over 10,000 vehicles including luxury Sedans and SUVs, reported Economic Times , citing two people directly aware of the company's plans.
  • Ola will launch the service on pilot basis in select cities and the service will be available in various formats such as rentals, subscription and corporate leasing.
  • Ola's self-drive car rental service will be launched in the coming weeks with a focus on top 5-7 markets, said the Ola executive
  • So far, the multi-modal transport company has relied on equity capital from some of the world's largest investors, including Japan's SoftBank and US investment firm Tiger Global, to fund its rapid growth in the country.


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