Hotline: 1800 102 2007
Hotline: 1800 102 2007
Mar, 28 2019

Ola to invest $500 mn for launching self-drive service

The Bangalore-headquartered company will be deploying nearly 10,000 vehicles, including luxury sedans and SUVs, in major cities in the coming months.

Ola to invest $500 mn for launching self-drive service

Ola, the homegrown ride-hailing platform, will invest more than $500 million to introduce a ‘self-drive’ service, targeted at broadening its portfolio of transportation solution. This investment will come from a mix of debt and equity over the next couple of years.

The Bangalore-headquartered company will be deploying nearly 10,000 vehicles, including luxury sedans and SUVs, in major cities in the coming months. 

An Ola spokesperson said, "Basis market feedback, we will pilot [the self-drive service] in various formats such as rentals, subscription and corporate leasing in select cities in the coming weeks."

Ola had announced investing $100 million in Vogo, a scooter-sharing platform, in December. This investment was made in order to build a smart multi-modal network for first-last mile connectivity in India.

In February, the ride-hailing platform was valued at roughly $6 billion during a funding. Ola has raised $3.67 billion till date.

sharebtn
Comment
user
email
mobile
address
star
Related opportunities
  • Tea And Coffee Chain
    About Us: Bean Here is a famous brand of Allahabad which..
    Locations looking for expansion Uttar pradesh
    Establishment year 2014
    Franchising Launch Date 2018
    Investment size Rs. 2lac - 5lac
    Space required 200
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater ALLAHABAD Uttar pradesh
  • Juices / Smoothies / Dairy Parlors
    About Us: Juice Galaxy serves multi cuisine fast food where you..
    Locations looking for expansion Maharashtra
    Establishment year 2012
    Franchising Launch Date 2019
    Investment size Rs. 20lac - 30lac
    Space required 800
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Pune Maharashtra
  • About Us: We are a team of industry experts working round..
    Locations looking for expansion Delhi
    Establishment year 2017
    Franchising Launch Date 2019
    Investment size Rs. 50000 - 2lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Others Consultancy
    About Us: Want to invest in a Water Care franchise business?..
    Locations looking for expansion Chhattisgarh
    Establishment year 2006
    Franchising Launch Date 2012
    Investment size Rs. 2lac - 5lac
    Space required 250
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Raipur Chhattisgarh
Insta-Subscribe to
Entrepreneur
Magazine
sme-80x109
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
email
mobile
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities