Ola Credit will give customers 7 days of credit so they can keep booking Ola cabs without worrying about having sufficient cash
Cab-hailing service Ola is on the fast track on the back of a $500 million funding.
Automobile makers in India are embracing taxi-hailing apps such as Uber and Ola, hoping to ride on their expansion to sell more cars, a contrarian view to companies in Western markets that fear a drop in car sales due to them
The state government says Ola was using its existing cab aggregator licence to promote bike taxi services.
So far this year, bankers have earned Rs 1,226 crore for handling 45 IPOs, which together mobilised Rs 48,363 crore.
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Ola competes with Uber Technologies in India.
Ola has raised $400 million from investors led by Russian billionaire Yuri Milner's DST Global.
Forest were good value for the win, though Ipswich came close to opening the scoring midway through the first half.
The strike is expected to be observed in key cities like Mumbai, New Delhi, Bengaluru, Hyderabad, Pune among other cities.
The entry of SoftBank-backed Ola into the electric scooter (e-scooter) segment is set to power up the overall market and perhaps fast-track the adoption of battery-operated vehicles. But for manufacturers of internal combustion engine (ICE)-powered two-wheelers, such as Bajaj Auto, Hero MotoCorp, and TVS Motor, it will be a double whammy. Not only will they have to contend with the aggressive pricing of Ola's scooter and incur a loss at each unit of the e-scooter sold, the volumes of their regular (ICE) models, too, could feel the squeeze, observed analysts. Ola is expected to price its e-scooter in the range of Rs 85,000-1.1 lakh.
Ola accuses Uber of violating local laws, run business for profit.
Ratan Tata was one of the world's most influential industrialists yet he never appeared on any list of billionaires. He controlled over 30 companies that operated in over 100 countries across six continents yet lived an unpretentious life. Ratan Naval Tata, who died at a Mumbai hospital on Wednesday night at the age of 86 years, enjoyed a perhaps unique status -- a corporate titan who was considered a 'secular living saint' with a reputation for decency and integrity.
Chinese bicycle sharing giant Ofo launches service in seven Indian cities.
As Kolkata marches towards modernity, it is hard to imagine its streets without these cabs, notes Air Commodore Nitin Sathe (retd).
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.
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.
The development comes amid Japan's SoftBank booking an investment loss of 39.28 billion yen (USD 350 million) on its investments in India, including those in Ola and e-commerce company Snapdeal.
Once the user selects a service, they will be directed to the Uber or Ola app to request the ride with one tap.
Growing the number of electric vehicles on Ola's platform is part of the terms SoftBank has put forth for the funding
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.
The Bengaluru-based firm competes with US rival Uber whose lukewarm IPO last year has contributed to the lag in valuation trend among the unicorns across the Indian start-up ecosystem.
Currently the average expected time of arrival for Ola vehicles is five minutes.
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".
About 1,000 such cabs have been registered on the company's platform so far
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.
There are times when a customer books a cab and is charged for the ride, but the driver doesn't show up. It is one of the many hacks that cab drivers use.
'The people of India have shown immense faith in the Tata group as they have never broken the trust of Indians.'
Ola did not disclose financial details of the investment.
The development comes close on the heels of Uber planning to invest substantial part of $3.5 bn Saudi money in India.
The total number of demat accounts in the country stood at 171.1 million as of August 31.
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