Hotline: 1800 102 2007
X
Search Business Opportunities
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, 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.

Comment
image
Related opportunities
  • Ice creams & Yogurt Parlors
    About Us: Grandpa's  ice cream-Fresh & Naturalbrings in a wide range of..
    Locations looking for expansion Delhi
    Establishment year 2019
    Franchising Launch Date 2019
    Investment size Rs. 10lac - 20lac
    Space required 150
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • About Us: MCTA provides Job Ready Certification Programs in Digital Marketing..
    Locations looking for expansion Maharashtra
    Establishment year 2016
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 650
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • Quick Service Restaurants
    About Us: Pizza is easily recognised food item in the world,..
    Locations looking for expansion Gujarat
    Establishment year 2012
    Franchising Launch Date 2018
    Investment size Rs. 20lac - 30lac
    Space required 150
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Ahmedabad Gujarat
  • Juices / Smoothies / Dairy parlors
    About Us: At Lassi Corner, we strive to help people transform..
    Locations looking for expansion Karnataka
    Establishment year 2016
    Franchising Launch Date 2017
    Investment size Rs. 5lac - 10lac
    Space required 125
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Bangalore Karnataka
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities