After offering health cover, Ola now waives off lease rentals for its driver-partners

The Bengaluru-based ride-hailing unicorn Ola has waived off lease rentals for all driver-partners who leased a vehicle via Ola Fleet Technologies (a subsidiary of Ola). The company has also offered its drivers an option to return cars owned by the company under its leasing program.

Ola, the Bengaluru-based ride-hailing unicorn has taken another step to help its driver-partners during the coronavirus outbreak. After announcing that it would cover loss of income for driver-partners and their spouses in case they test positive for coronavirus (COVID-19), it has now announced that it has waived off lease rentals (akin to EMI) for all driver-partners who leased a vehicle via Ola Fleet Technologies (a subsidiary of Ola). 

The company has offered its drivers an option to return cars owned by the company under its leasing program to the nearest designated station, and in exchange, it is waiving monthly installments retrospectively from March 15.


An official statement by the company said: "We can confirm that we are fully waiving away lease rentals, akin to an EMI, for driver partners who operate vehicles owned by Ola’s subsidiary, Ola Fleet Technologies under its leasing program. Driver-Partners who are currently in distress due to the temporary lockdowns to arrest the contagion of COVID-19, will stand to benefit with the reduced economic burden during these times. Further, our benefits on insurance for drivers and their spouses against loss of income due to contraction of COVID-19 as well as other medical support during this time, will continue to be offered to all our driver-partners across the country."

A highly-placed source in Ola, on the condition of anonymity, adds that the startup has taken the lead to reduce the financial burden on drivers amid COVID-19, while banks are yet to provide a solution on EMIs for drivers who have purchased vehicles on loan from them.  

The ride-hailing unicorn has taken several steps to ensure the safekeeping of their driver-partners during this pandemic. In the health cover, all the eligible driver partners and their spouses will receive a cover of a floater sum of Rs 30,000, of which they can receive a compensation of Rs 1,000 per day for 21 days from the date of them being tested positive.

This includes home and hospital quarantine as prescribed by a qualified medical practitioner. Drivers can make a claim for this compensation for themselves and (or) their spouse by providing appropriate medical documents. While still operational, only a few cabs are plying in cities for emergency purposes.

(Edited by Kanishk Singh)


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