Indian Multinational ridesharing giant Ola plans to enter into the electronic vehicle segment. The company will start its EV cab services in Bengaluru with around 1000 cars. It also plans to add more EV cabs to its portfolio by the means of procurement. Furthermore, the company intends to take the number to over 10000 in one year in the city. Vehicles will be leased to drivers with fixed income along with variable pay.

Ola’s Background

Ola is an Indian Multinational brand that offers cab and auto services. It was launched in 2010 by Bhavish Aggarwal and Ankit Bhati. Currently, the ride-sharing giant operates in more than 250+ locations with a workforce of over 3000 employees.

Along with cab services, Ola also operates in different verticals. It includes financial services and Ola’s recently launched Electric bikes. Ola S1 and Ola S1 pro are two of its flagship models.

Ola's plans to enter into electric vehicle segment.

Users can use the Ola mobile application for booking. This recent introduction of EV setup in Ola will be available in Ola app as a separate category. Besides, the users can also book regular cab and auto services in the same application.

The Gurugam-based EV ride-sharing company, BluSmart offers the same service. It recently started its operations in Bengaluru. Recently, Ola’s most prominent rival Uber also launched its EV cab services in Delhi. 

Ola plans EV Cabs as premium service

This EV service of Ola is a premium service as it will erase the cancellation problem. The Indian market suffers a typical problem from Ola, which is the cancellation of cabs by drivers.

Ola tried a similar service in 2017 in Nagpur but eventually shut it down due to high costs and insufficiency of charging stations. 

The world is growing and eventually moving toward the electrification of almost everything. This electrification phase includes electric bikes, cars and many more. Furthermore, the skyrocketing fuel prices have forced people to switch to EVs in recent months. The use of electric vehicles has reduced the costs of operating vehicles. In addition to this, it also contributes to green energy and motivates sustainable growth.

Featured Image Credit: Autopunditz

Apurv Panigrahi