India’s Ola, a leader in the ride-hailing industry and a key player in the electric vehicle segment, has announced the closure of its operations in Australia. Despite its rapid growth and profitability as a segment leader in India, Ola has decided to realign its focus on the domestic market and the future of electric mobility. In a statement, the company emphasized its commitment to serving the Indian market and its ambitious goal of reaching 1 billion Indians. With a technology-first approach and a dedication to innovation, Ola remains confident in spearheading India’s mobility ambitions and driving the next phase of industry growth. Following is the company’s statement-
“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.
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.
We remain very excited and focused on our mission to serve 1 billion Indians. As a technology-first business, leading with innovation, we are confident to spearhead the country’s mobility ambitions and lead the next phase of growth in the industry at large.”
