The India taxi firm founded by Bhavish Aggarwal and Ankit Bhati in 2011 is planning to expand in the European market. The firm has expanded its footprints in Australia this year in February.
Ola is planning to stay on top of the fame in the global taxi market. The expansion in the UK will be the company’s first European expansion.
But the question remains, with Uber and other taxi services in the global market will Ola be able to stay in the global game.
Ola’s European Expansion
Ola has officially announced their plan to enter the UK market, on-demand taxi app can be now used by customers in the UK
“Ola is excited to announce its plans for the UK, one of the world’s most evolved transportation markets,” stated Bhavish Aggarwal, Co-Founder, and CEO of Ola.
“The UK is a fantastic place to do business and we look forward to providing a responsible, compelling, new service that can help the country meet its ever demanding mobility needs. We look forward to our continued engagement with policymakers and regulators as we expand across the country and build a company embedded in the UK.” He added.
If we agree with Ola, they have claimed that they are only cab service in the UK to provide complete facilities and services like booking private hire vehicles (PHVs) and black cabs from a single platform. No other app facilitates this feature as of now.
Expansion in Australia in the month of February was there first international expansion and the starter of entering the global taxi market. In Perth, Ola gave free rides to attract more customers.
As per the latest report, Ola has already expanded into 7 cities and has appointed 40,000 drivers in the country. No, its time to see if they will able to replicate this successful model in the UK as well.
Uber in the UK
Uber taxi service has been around for a long time now the cab service is used and known by lots of people. Uber is facing some troubles in the UK market. It was one of the first on-demand taxi apps to operate in the UK.
It is facing lots of criticism and oppositions from the local cab driver whose business went down due to uber
Recently taxi drivers in London have filed £500,000 million lawsuits against Uber. The lawsuit had been filed by the Licensed Taxi Drivers’ Association (LTDA) and 11 other associations of drivers.
Local drivers have reported that as the Uber initiated their service in 2012, local drivers have faced the loss of an average £10,000 per year. The average income of a cab driver in the UK is £50,000. According to the associations Uber “has operated unlawfully between years 2012-2017”
The’ New Uber’ — under CEO Dara Khosrowshahi — is trying to right the wrongs of the past, but compliance with regulators takes time and requires wholesale changes to business, operations and company culture.
Seeing such disturbance and circumstances taking place in the UK, it might be little challenging for Ola to expand and survive
Let hope for the best for Ola.
Ola in India
As of now, Ola cover 110 cities across India. The firms offer licensed taxis, private hire cars, and rickshaws through their network of over 1 million drivers.
The company has successfully raised around $ 3 billion from its investors. The list of investors includes SoftBank, Chinese duo Tencent and Didi Chuxing and DST Global