Ola to invest Rs 150 cr in Andhra Pradesh in next 3 years

By: | Updated: September 16, 2015 1:30 PM

Taxi aggregator Ola on Wednesday signed a memorandum of understanding (MoU) with Andhra Pradesh government, committing investments of Rs 150 cr in the next 3 years.

Ola cabsOla’s proposed investment of Rs 150 cr is aimed at encouraging driver entrepreneurship and create employment opportunities in the state. (Image: Ola Facebook)

Taxi aggregator Ola on Wednesday signed a memorandum of understanding (MoU) with Andhra Pradesh government, committing investments of Rs 150 cr in the next 3 years towards skilling, opportunity creation and technology deployment across the state.

Ola has partnered with Andhra Pradesh for its vision of ‘Smart Andhra’. According to the MoU, “Ola will enable technology to bring support to over 50,000 vehicles in the state within the next three years to ensure smart, reliable and safe transportation in the cities. Ola will also work towards the AP Government’s vision of transforming Andhra Pradesh into a smart – tourism hub.”

The investment of Rs 150 cr by Ola is aimed at encouraging driver entrepreneurship and create employment opportunities in the state. Currently Ola has over 10,000 vehicles on its platform in the state and it plans to increase this number to 50,000 in the next 3 years.

“We are proud to partner with the Andhra Pradesh government to provide reliable, safe and smart on-demand transportation options to commuters across the state. As the government works toward transforming AP into a tourist hub, Ola will use its expertise to provide technology for more than 50,000 vehicles across the state ensuring a convenient and safe experience for users. Ola will be investing over Rs 150 cr towards skilling, opportunity creation and technology deployment across the state, ” Pranay Jivrajka, Chief Operating Officer at Ola said.

Ola launched its on-demand cab booking app in Andhra Pradesh in 2014.

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