Ola To Invest Rs 5,000 Cr In Cab Leasing Business
Cab hailing app Ola has been spreading out its branches to tackle the tough competition the San Francisco based firm Uber has been subjecting it to. It is now planning to invest Rs. 5000 crore in a programme under which drivers can lease a car for a minimal initial deposit of Rs35, 000.
To take its new leasing business, it has made a major appointment by hiring former LeasePlan India executive Rahul Maroli as Vice President (Strategic Supply Initiatives). This trend of picking those whose profile showcase tremendous achievements in the said sector has been widely seen this year.
When drivers lease a car under the scheme with the said initial deposit of Rs.35,000 and also paying up monthly lease which goes upto Rs.15,000 roughly, they can even own the car after three years. We think this is a form of stability which is likely to draw drivers towards this lease scheme of the company, helping the company to gain more cabs and drivers, and also helping the drivers to turn into entrepreneurs once they own the vehicle after three years.