This comes at a time when Ola is looking to replicate nationally the success of its auto-rickshaw offering in Chennai and Bengaluru.
65% of respondents find surge pricing by aggregators burdensome.
JD(S) will help them build a competing app, which, will work on a cooperative model, where drivers will own the app and will decide prices which the customers will have to pay
Both are focused on the overall transportation business, in which taxi services are only a part; the extended ambit includes autos, motorbikes, cycles, electric vehicles, water transport as well as food delivery services, says Surajeet Das Gupta.
Maruti Suzuki said there are many reasons for this downturn in the auto market such as liquidity crunch, increased prices of products due to regulatory issues, higher taxes and rise in insurance rates.
In a first in the country, online taxi aggregator Ola has today announced that it has deployed boats in water logged and partially submerged areas in Chennai.
Once the user selects a service, they will be directed to the Uber or Ola app to request the ride with one tap.
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An industry source said the funding was part of an overall $500 million the company is planning to raise, which will value Ola at around $5 billion.
The primary market will remain abuzz with more than half a dozen companies, including Hyundai Motor India, Swiggy, and NTPC Green Energy, lined up initial public offerings over the next two months to raise around Rs 60,000 crore, merchant bankers said. Apart from these three firms, Afcons Infrastructure, Waaree Energies, Niva Bupa Health Insurance, One Mobikwik Systems, and Garuda Construction are among the companies planning to launch initial public offerings (IPOs) during October-November, they added. Together, these firms are looking to raise Rs 60,000 crore through their IPOs.
Tamil Nadu -- often dubbed as India's own Detroit due to its thriving automobile manufacturing ecosystem -- is in no mood to miss the EV bus either. Recent developments attest to it. Vietnamese electric vehicle (EV) maker VinFast has promised a $2 billion plant in the southern state. And as promised earlier, the work on Tata Motors-JLR plant will kick off next week, on September 28, after the foundation stone laying ceremony.
New norms issued as per the Motor Vehicle Aggregator Guidelines 2020 have mandated a cap on surge price, preventing aggregators from charging more than 1.5 times of the base fare.
Uber and Ola continued to operate in New Delhi while their licence applications were pending approval.
State govt asks the two taxi aggregators to end surge pricing.
Cab aggregator Ola is laying off 1,400 staff from rides, financial services and food business as revenues declined by 95 per cent in the last two months due to coronavirus pandemic, a note by CEO Bhavish Aggarwal said. In an email to employees, Aggarwal made it clear that the prognosis ahead for the business is "very unclear and uncertain" and the impact of this crisis is "definitely going to be long-drawn for us".
Ola wants to be India's answer to Grab, which is into everything, starting from cab service and logistics to bike taxis and food and grocery delivery.
The new Ola app will allow fleet owners to track their cars in real-time, view the performance of their drivers, and even their daily earnings
While the cab aggregators offer incentives as they battle each other for more customers, drivers complain that their earnings have halved in the last six months. Alnoor Peermohamed reports.
US-based ride hailing firm accuses rival of making false bookings on its platform, drags it to Delhi High Court.
According to company executives, the situation might worsen in the coming days.
Uber is suing Ola for $7.5 million to compensate for lost revenue and goodwill, alleging the Indian market leader created about 94,000 fake user accounts with the ride-hailing service and used them to make more than 405,000 false bookings
'Shape up or ship out' message has been loud and clear across the new-age companies in the stressed market conditions
Ola did not disclose financial details of the investment.
Koo -- the made-in-India rival of Twitter -- will not charge users for a verification badge, its co-founder and CEO Aprameya Radhakrishna said as he took on the larger rival for allegedly first creating bots and now charging users for verification. Koo, which allows users to express views in Indian languages, has already crossed 50 million downloads and is now flying into the rival's nest, starting a campaign on Twitter by making itself prominently visible on verified handles and offering them better deals on its platform at no cost. Since taking over Twitter, billionaire Elon Musk has set in motion massive changes, sacking employees and talking of levying a $8 charge for 'verified' handles.
The total number of demat accounts in the country stood at 171.1 million as of August 31.
Raghu Krishnan profiles the man in the eye of the storm at Infosys.
Around half the value of the mark-downs is due to the Japanese currency's appreciation against other currencies.
Just a few weeks ago, the Centre has come out with the long-awaited Motor Vehicle Aggregator Guidelines, which have drawn a dismayed response from the companies concerned.
The Ola Money and Uber tie-ups demonstrate how insurance companies, including even government-run ones, are forging partnerships with every possible service company to offer products.
Uber started its business three years ago in India and is now operating in over 20 cities with thousands of cab drivers.
The firm is fighting a court battle over new rules that mandate licensing & cap fares that remove surge pricing.
None of the top five start-ups launched by IITians - Flipkart, Zomato, Ola Cabs, Housing.com and Inmobi - were incubated at IITs
The news of markdowns in the value of Ola and Snapdeal comes at a time when both companies are in talks with investors to raise fresh funds to take on deep-pocketed competition.
The past few weeks have been rough for both Ola and Uber companies, dodging fire from almost all corners.
The IPO market will be bustling next week, with four companies, including Bajaj Housing Finance, set to launch their initial share-sale to raise a total of Rs 8,390 crore. Besides these four main-board IPOs, nine SMEs are preparing to debut with their maiden public issues next week, targeting to collect Rs 254 crore. Together, these 13 firms are looking to raise Rs 8,644 crore through IPO.
The Association, which claims to represent around 125,000 app-based taxis in the the Delhi-NCR, demands that fares be increased from existing Rs 6 per km to around Rs 20 per km.
Ola Cabs acquires TaxiForSure in $200-mn deal.
Electric mobility in India is touted to be the way to the future, but implementation of large-scale projects to bring infrastructure for charging is still lacking.
The investments by Uber and Ola included setting up kiosks, incentivising drivers for parking at the railway stations, and payments to the Indian Railways.
The controversy started a Twitter firestorm with many demanded the Ola to block his account. However, there were many who supported the man's 'right to choose'.
Delhi Chief Minister Arvind Kejriwal says surge pricing is daylight robbery and no responsible govt can allow that.
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