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India’s Mahindra Partners with Ola Ride-Hailing Service
SUV maker Mahindra & Mahindra Ltd. has partnered with Ola, India's largest smartphone-based ride-hailing service, to sell 40,000 vehicles at reduced prices to Ola’s independent drivers over the next two years.
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SUV maker Mahindra & Mahindra Ltd. has partnered with Ola, India's largest smartphone-based ride-hailing service, to sell 40,000 vehicles at reduced prices to Ola’s independent drivers over the next two years.
Mahindra’s move mirrors that of rival Tata Motors Ltd., which announced a similar nonequity alliance with Uber Technologies Inc. in June.
Mahindra will offer Ola drivers discounts on its Verito passenger car, zero down payment plans, low interest rates and subsidized insurance. The partners say the scheme will generate sales and financing worth more than 2.6 billion rupees ($400 million).
Ola, a part of ANI Technologies Pvt. Ltd., operates in 102 cities in India. It offers a range of transportation options from rickshaws and shuttle buses to ride-sharing and luxury sedans.
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