Ola logs out of global biz, keen on India
Decides to exit the UK, Australia and New Zealand amid rising competition
New Delhi: Ride-hailing company Ola on Tuesday said it has decided to shut down all of its existing global markets, namely the UK, Australia and New Zealand amid rising competition.
The company mentioned that it will be focusing on the Indian market as it sees an immense opportunity for expansion in the country.
“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,” an Ola spokesperson said in a statement.
“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,” it added.
The company operates in hundreds of locations and provides several modes of transportation, including two-wheelers.
