Ola to invest Rs.5,000 crore in cab leasing programme

New Delhi, Sep 14 (IANS) Cab aggregator services Ola on Monday said that it was launching a first of its kind cab leasing programme for driver partners and would dedicate a capital of over Rs.5,000 crore for scaling this up in the coming year.

As a part of the strategy, Ola has hired Rahul Maroli to head the leasing business. Prior to joining Ola, Rahul was a part of the management team at fleet management company LeasePlan.

“We believe that this first of its kind leasing programme brings a unique benefit to driver partners to turn entrepreneurs. Through key partnerships with financial institutions and car manufacturers, Ola’s subsidiary will be able to bring in additional high quality supply to address the unmet mobility demands of millions of users in the country,” said Ola co-founder and chief executive Bhavish Aggarwal.

The company has also been running a pilot project before launching the programme. “Over 1,000 vehicles in Bengaluru, Chennai, Hyderabad and three other cities are a part of the pilot,” Ola said.

“The programme will enable flexibility for drivers to lease a car for a minimal initial deposit and monthly lease payments with an option to own the vehicle after a period of 3 years, opening up tremendous opportunity for hundreds of thousands of drivers to turn entrepreneurs in the long run while giving them instant access to a stable income,” the company said.


Leave a Reply

Please enter your comment!

The opinions, views, and thoughts expressed by the readers and those providing comments are theirs alone and do not reflect the opinions of www.mangalorean.com or any employee thereof. www.mangalorean.com is not responsible for the accuracy of any of the information supplied by the readers. Responsibility for the content of comments belongs to the commenter alone.  

We request the readers to refrain from posting defamatory, inflammatory comments and not indulge in personal attacks. However, it is obligatory on the part of www.mangalorean.com to provide the IP address and other details of senders of such comments to the concerned authorities upon their request.

Hence we request all our readers to help us to delete comments that do not follow these guidelines by informing us at  info@mangalorean.com. Lets work together to keep the comments clean and worthful, thereby make a difference in the community.

Please enter your name here