To Focus On Making EVs, Ola To Shut Down Used Cars Division
The ride-hailing giant recently teased three electric cars for India
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Ola Cars was launched in October 2021, in competition to Spinny, Droom, OLX Autos, and CarDekho.
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The used car business is shut down, but its infrastructure, technologies and other resources will be repurposed for Ola electric.
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The resources will help in improving the sales and service network of Ola Electric.
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The company already has the S1 electric scooter, while it plans to enter the electric car space with three different models.
In a big move, Ola has confirmed that it is shutting down its used cars (Ola Cars) and Ola dash (quick e-commerce service) verticals. The used car platform, Ola Cars, was launched in October 2021, and has bit the dust in under a year.
However, the used car business’ technologies and infrastructure will be repurposed for improving the sales and service network of Ola Electric. Last month, Ola had shut down operations of its used car vertical in five cities. The company was already operating with 300 centres spread across 100 cities.
While Ola’s electric scooter has already proven to be a hot-seller, the company plans to foray into the electric car space as well. It recently teased three upcoming electric cars, a hatchback, a large sedan, and a SUV coupe. The company will reveal the three concepts and give more details about them, including about their claimed range, on August 15.
If an electric hatchback is being planned for market entry before the other two, it is expected to be priced under Rs 10 lakh. The company also seems to be working on autonomous driving technology, which could be seen in at least one of these upcoming electric cars.