Ola to launch car-rental service with 'Ola Drive'

News Karnataka

Ola to launch car-rental service with 'Ola Drive'

Ola to launch car-rental service with 'Ola Drive'

SC KM   ¦    Sep 12, 2019 04:55:46 PM (IST)

Ola to launch car-rental service with \'Ola Drive\'-1Bengaluru: Ride-sharing app firm Ola has announced that it will be launching a self-driven car-rental service in Bengaluru soon, according to a report by TOI.

The company also said that a licence for commencing the new service has already been issued by the relevant authorities. Although Ola is still testing the 'Ola Drive' feature on its app, the company has plans of launching it across India as well.

The new feature will be based on a short-term rental, long-term subscription and corporate leasing model.

Ola Drive is likely to put the company in direct competition with other aggregators of the car-rental market such as Drivezy, Zoomcar and Myles. Nearly 10,000 cars, including hatchbacks, sedans and SUVs will be available for rent to users. In addition, users will have the provision of leasing either intra-city or inter-city cars from the pickup and drop points.

Sources informed TOI that a $500 million dollar investment will be made by Ola in order to fortify its position in the car-rental market. "Launching a self-drive service is a natural extension for Ola," said a company spokesperson.