Ola to raise fleet by 40,000 after Mahindra tie-up

Ola, a ride-hailing firm, and Mahindra & Mahindra, an automobile firm, have announced a tie-up, to raise the fleet strength on Ola's platform by 40,000 vehicles over the next two years. The addition will primarily be the Verito, earlier called the Logan.

“This is not just a tie-up between Ola and Mahindra Auto but the entire group,” said Anand Mahindra, chairman, Mahindra Group.

Ola drivers will be eligible for Mahindra financing, where they would get up to 100 per cent financing on new and pre-owned vehicles. The services of Mahindra’s insurance arm would be offered to drivers; Ola drivers would come under M&M’s corporate social responsibility scheme.

Mahindra stressed this was not an exclusive tie-up, leaving the door open for alliances with Ola’s big rival in this country, Uber. The financial incentives are exclusive.

Bhavish Aggarwal, co-founder and chief executive, Ola, said there would only be a conventional fuel car exchange for now but saw the possibility of soon adding Mahindra’s electric vehicles to the fleet. “This is an initiative that meets the current future needs of the the Indian consumer, particularly the young who read more..