Ola, the ride-hailing platform, is pulling out all its operations outside of India by the end of this month, including the United Kingdom, Australia, and New Zealand. These countries have been part of Ola’s market since 2018.
Ola’s spokesperson confirmed the plan to withdraw from international markets, stating that the future of automobiles lies in electric vehicles. This shift is expected to further boost the growth of ride-hailing apps in India. As a result, the company has decided to focus solely on the Indian market and shut down all current operations in other countries.
Earlier, Hemant Bakshi, the CEO of Ola, discussed the company’s plans to increase the focus on electric vehicles and enhance premium services for customers. Currently, the company operates 8,000 electric scooters, with plans to transition all three and four-wheeler vehicles to electric in the future.
Source: India Times
TLDR: Ola is exiting international markets to concentrate on electric vehicles and premium services in India, with a focus on transitioning all vehicles to electric in the future.
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