Ola shuts used car biz, winds up q-commerce platform Ola Dash


New Delhi, Jun 25 (IANS): Ride-hailing platform Ola has shut down its used vehicle business Ola Cars as well as Ola Dash, its quick-commerce business, at a time when rivals are pouring money into the 10-15 minute grocery delivery market.

The company shut Ola Cars within one years of its launch, as it focuses on its electric two-wheeler and car verticals.

Ola has so far shut down Ola Cafe, food panda, Ola Foods, and now Ola Dash.

"Ola has reassessed its priorities and decided to shut down Ola Dash - its quick commerce business. Ola will also be reorienting its Ola Cars business to focus more on strengthening the go-to-market strategy for Ola Electric," the company said in a statement.

It added that Ola Cars' infra, technology and capabilities will be "repurposed towards growing Ola Electric's sales and service network".

Ola now aims to invest more towards its electric car, cell manufacturing, and financial services businesses.

Ola Dash shuts down at a time when India's quick commerce market is all set to witness 15 times growth by 2025, reaching a market size of nearly $5.5 billion.

The total addressable market for quick commerce in India stands at $45 billion, and urban areas are driving this market on the back of mid-high-income households.

Zomato on Friday poured Rs 4,447 crore into acquiring quick-commerce grocery delivery platform Blinkit.

In December 2021, Swiggy announced to pour $700 million into Instamart.

Last month, 10-minute delivery platform Zepto raised $200 million, taking its valuation to around $900 million.

Ola Electric is also facing scrutiny over faulty batteries in its electric two-wheelers, among other EV players like Okinawa Autotech, Pure EV, Jitendra Electric Vehicles, and Boom Motors, by the government.

The Bureau of Indian Standard (BIS), which comes under the Union Consumer Affairs Ministry, has published the "performance standards for electronic vehicle batteries" in a bid to keep a strict control over the manufacturing of EV batteries.

 

  

Top Stories


Leave a Comment

Title: Ola shuts used car biz, winds up q-commerce platform Ola Dash



You have 2000 characters left.

Disclaimer:

Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. Daijiworld.com will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will Daijiworld.com be held responsible.