Ola Shuts Down Its Used Cars Business To Focus On Electric Vehicles

Published June 28, 2022
Views : 5572
1 min read

Going forward, Ola intends to focus on its EV business, which includes the first set of four-wheelers that were teased last week

Ola Shuts Down Its Used Cars Business To Focus On Electric Vehicles highlights

Ola in India has its fingers in quite a lot of pies, including ride-sharing (Ola Cabs), used cars (Ola Cars), q-commerce (Ola Dash), and of course Ola Electric, which currently retails electric scooters in the country. Now with Ola beginning to expand its horizons into four-wheeled EVs, the company has decided to shut down the Ola Cars used-cars business as well as Ola Dash. For the former, its spell only lasted 8 months.

Ola Shuts Down Its Used Cars Business To Focus On Electric Vehicles details

A spokesperson for the company stated in a report, “Ola has reassessed its priorities and decided to shut down Ola Dash – its quick commerce business. Ola will also be reorienting its Ola Cars business to focus more on strengthening the go-to-market strategy for Ola Electric… The infrastructure, technology and capabilities will now be repurposed towards growing Ola Electric’s sales and service network.”

The spokesperson added, “We’re very excited and focused on our mission to accelerate the electric revolution in India and scale our mobility services to serve 500 million Indians. With our strong balance sheet, we’re increasing our pace of investments and growth into new areas like electric cars, cell manufacturing and financial services.”

Ola Shuts Down Its Used Cars Business To Focus On Electric Vehicles overview

So what’s in the pipeline for Ola electric cars? Well, quite a lot, judging from last week’s events where the carmaker teased three vehicles which are potentially a hatchback, a coupe and an SUV. What’s common between these three EVs will be muscular lines and plenty of illuminated bits.

Ola Shuts Down Its Used Cars Business To Focus On Electric Vehicles gallery

More details on the EVs will surface on August 15, and will likely start fully showing up by the end of 2022. As for when they will go on sale, that might take until next year.

Source