Shared mobility service provider Ola today announced the launch of Ola Cars, a new platform for the purchase and sale of vehicles. It will be accessible through the Ola app and will cater to the used car market, to begin with, and eventually include new cars as well. Ola Cars will include services starting from vehicle finance and insurance, registration, maintenance including vehicle health diagnostics and service, accessories, and also resale of the vehicle back to Ola Cars. The service has been started in 30 cities. Ola promises to scale up to over 100 cities by next year.
Ola Cars will begin with pre-owned and, over time, Ola will open it up for new vehicles from Ola Electric and other automotive brands as well. The company plans to launch new verticals under this brand for the retail of used two-wheelers as well.
The company also announced the appointment of Arun Sirdeshmukh as Chief Executive Officer of Ola Cars. Sirdeshmukh holds more than 30 years of experience in consumer internet, FMCG, retail and fashion industries, including Amazon India, Reliance Trends and IBM Global Services. He will oversee the entire sales and distribution, service, marketing, customer support, and go-to-market strategy for the business.
In a press note, the company clarifies that Ola Cars is part of its larger vision of ‘New Mobility’ that encompasses three key pillars – New Mobility Services expanding from 150 to 500 cities and increasing the reach from 100 million people to 500 million people; New Energy Vehicles with EVs across existing and new vehicle form factors, and New Auto Retail to improve the life cycle of vehicle ownership for a customer.
With Ola Cars, we are completely reimagining not just buying and selling but also vehicle finance, insurance, as well as maintenance – an end-to-end digital-first experience for our customers. We have plans to expand aggressively over the next few months across India and international markets and also launch new verticals in this business including pre-owned 2W and new vehicles, Arun Sirdeshmukh, CEO, Ola Cars, said.
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