With the transportation network company having raised Rs.400 crore just a couple of months back with the interest of rolling out a fleet of electric vehicles in the next couple of years, Ola has now taken one giant step and is looking towards monopolizing the self-drive market. According to the cab aggregator, to add to their portfolio, they will invest $500 million and launch their self-drive service in the coming months.
Since this will the company’s pilot project, Ola has announced that they will have around 10,000 self-driven vehicles in approximately 5-7 big cities in India. They added by saying that customers will be able to hire SUVs and luxury sedans as well, on a rental or subscription basis, with corporate leasing being their other revenue generating option. Ola looks to compete with existing self-drive companies such as Zoomcar, Myles and Drivezy.
For them to be successful, Mr.Piparsania, Director, Counterpoint Research, believes that the rental rates should be a lot cheaper than what they are today, and the pick-up and drop-off points need to be a lot more convenient.
Source: Economic Times