Mahindra And Ola Join Hands To Drive Smart Mobility In India

  • Sep 8, 2016
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The tie-up is to bring employment and self-sustainability across the nation while addressing the issue of a safer and convenient commute

Mahindra-Ola Tie-Up

On September 8, 2016, Mahindra and Ola joined hands to start India’s largest shared transportation platform. For this, Ola will empower 40,000 driver partners across India by 2018. Both the companies aim for an overall vehicle sales and financing of over US$ 400 million (Rs 2,600 crore).

How you might ask? Well, Ola driver partners can now avail an integrated ‘Mahindra-Ola’ package which will include Mahindra cars at special prices, financing with zero down payment, best NBFC (non-banking financial corporation) interest rates, subsidised insurance premiums, maintenance packages and resale support at the end of the ownership cycle. This package will help drivers to invest in a car more easily and make a living out of it.

Speaking on the occasion, Anand Mahindra, chairman, Mahindra Group said, “This is an initiative whose time has come, one that meets the current and future needs of Indian consumers, particularly younger ones who prefer shared mobility solutions.”

Bhavesh Agarwal, co-founder and CEO, Ola said, “We are delighted to work with an iconic Indian brand like Mahindra to further our mission of building mobility for a billion Indians. As part of the strategic alliance between the two companies, we have created a unique solution to help tens of thousands of aspiring driver-entrepreneurs realise their dreams.”

The ‘Mahindra-Ola’ package will also support drivers with accident insurance worth Rs 15 lakh and scholarships for children in 10th and 12th standard.

Mahindra further added that the company will initiate (what? The tie-up, the collaboration?) by bringing the Verito sedan for the tie-up. However, both the companies will also look towards the used car market to further cut down the investment costs for the driver partners. Mahindra already has a chain of Mahindra First Choice outlets which deals in used cars. The Indian automaker is looking to increase the number of outlets to 1500 by next year.

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