Ola shutters international operations as it "reassesses priorities"
Ola launched its operations in Australia and New Zealand in 2019.
Ola Cabs has decided to shut down its overseas ride-hailing business in the UK, Australia and New Zealand to pursue expansion in India.
The company had been losing market share in Australia and New Zealand, in particular, to its bigger rival, Uber, an Ola employee told YourStory, requesting anonymity.
The app in Auckland will stop accepting ride bookings from April 12 ie Friday onwards, according to various sources in New Zealand. The app will be pulled from platforms after May 11, 2024.
"Our ride-hailing business is growing rapidly, and we remain profitable and segment leaders in India. The future of mobility is electric—not just in personal mobility, but also for the ride-hailing business and there is immense opportunity for expansion in India," Ola's official statement read.
"With this clear focus, we’ve reassessed our priorities and have decided to shut down our overseas ride-hailing business in its current form in the UK, Australia and New Zealand," it added.
The Bengaluru-headquartered company recently announced its intention to focus on e-bike taxis using Ola Electric scooters in India. It has already started pilot tests in a few cities and plans to launch the option on the Ola Cabs app for more users soon.
ANI Technologies, Ola's holding company, posted a consolidated loss of Rs 772.25 crore and revenue of Rs 2,799.38 crore for FY23.
It has been facing stiff competition from as well as emerging EV companies such as which have been rapidly expanding to offer electric rides. Some users have hailed new entrants in the market—particularly BluSmart and QuickRide—for their focus on safety and better customer experience versus Ola.
Ola and Uber drivers in Telangana recently launched a 'No AC campaign' in the middle of a scorching summer to pressure the companies to raise fares on the app.
Edited by Kanishk Singh