Ola to announce new initiative with Mahindra

Mahindra is likely to offer leasing of cars, financing and auto insurance to Ola as part of the deal


Photo: Hemant Mishra/Mint
Photo: Hemant Mishra/Mint

Mumbai: Ride-hailing firm Ola and the India’s top utility vehicle maker Mahindra and Mahindra are set to outline a joint initiative on Thursday, according to an invite sent to the media.

Mahindra is likely to offer leasing of cars, financing and auto insurance to Ola as part of the deal, CNBC TV 18 reported on Wednesday.

Ola declined to comment on the specifics of the initiative. Mahindra were not immediately reachable for comment.

Ola and global rival Uber have burned through investors’ money to capture market share in India, the world’s fastest growing taxi market worth nearly $12 billion. Reuters

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