Newly rebranded Ola Consumer resumes cab share rides
The ride-hailing platform resumed car-pooling rides four years after it stopped the feature in India amidst the COVID-19 pandemic.
Ola Consumer has resumed its ride-sharing feature on the Ola app after four years, as it attempts to break ground amidst intense competition from rivals Uber and Rapido.
Bhavish Aggarwal, Co-founder of Ola, had announced the roll out of the ride-sharing feature during the company’s annual product launch event, Sankalp, on August 14.
Aggarwal also said that Ola Cabs will be rebranded as Ola Consumer, and introduced a new loyalty programme for its customers in the form of Ola Coin, which rewards end-users for every transaction they make on the Ola platform across mobility, ecommerce, and logistics services.
"At Ola Consumer, our aim is to ensure that every consumer has access to the best products and services without barriers of traditional commerce," said Aggarwal on the rebrand.
In 2020, Ola and its rival US-based Uber suspended the ride-sharing option on their platforms due to rising cases of COVID-19 in the country.
The company’s electric vehicle manufacturing arm, Ola Electric, listed on the Indian stock exchanges on August 9. It is also set to roll out its new series of motorbikes aimed to capture another share of the two-wheeler market.
Ola Electric competes with Ather Energy, which is also looking to list on Indian bourses next year, according to reports.
(Disclaimer: Shradha Sharma, Founder and CEO of YourStory, is an independent director in Ola Electric.)
Edited by Suman Singh
