Industry

Ola pact to net M&M Rs.2,600 cr. in two years

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Mahindra & Mahindra Ltd., and cab-hailing service provider Ola formed an “non-exclusive” alliance where the automaker will sells its cars and services to earn Rs.2,600 crore in revenue over the next two years.

An ‘unified special package,’ announced by the two companies, will enable more than 40,000 drivers of Ola, India’s largest shared transportation platform, to buy Mahindra cars at special prices, low interest rate financing with zero down payment from Mahindra Finance, subsidized insurance premium from Mahindra Insurance Brokers and comprehensive maintenance package from Mahindra First Choice Wheels as well as other driver-centric benefits.

“This is a collaboration of two ecosystems,” Anand Mahindra, Chairman, Mahindra Group told reporters here. “We are providing an irresistible offer. This is an initiative whose time has come, one that meets the current and future needs of Indian consumers, particularly young ones who prefer shared mobility solutions. This is a marriage of click and brick ecosystems which will enhance Ola’s value proposition.”

Mahindra and Ola will also explore other areas of collaboration including introduction of electric vehicles.

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Printable version | Dec 12, 2019 6:50:11 PM | https://www.thehindu.com/business/Industry/Ola-pact-to-net-MampM-Rs.2600-cr.-in-two-years/article14628658.ece

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