Ola drives into the UK
Will take on Uber as it launches in South Wales and Great Manchester
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Prefer us on GoogleLast Updated: Aug 13, 2018, 14:39 IST1 min
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“Ola has obtained licences to operate in South Wales and Greater Manchester, and will launch in South Wales within the next month,” the company said. It is the only ride-hailing app in the UK to offer both private hire vehicles and black cabs.
In the UK, Ola will compete with Uber, which has been operating there for almost six years, albeit with some difficulty. Uber’s licence was earlier revoked for failing to report crimes committed by its drivers and its use of illegal tracking technology.
“Ola plans to offer better incentives to drivers, almost double,” says Yugal Joshi, vice president at Everest Group consultancy. “It understands the regulatory framework and must have done its financial modelling. But the outcome is still uncertain.”
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“In India, Ola has achieved critical mass,” says Jaspal Singh, co-founder of Valoriser Consultants. “But to raise the next round of funding, it has to show revenue or trip growth. That’s why it is looking at global markets.”
First Published: Aug 13, 2018, 14:39
Subscribe NowManu Balachandran is a writer for Forbes India, based in Bengaluru. At Forbes India, Manu writes on automobiles, aviation, pharmaceuticals, banking, infrastructure, economy and long profiles among man
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