Mahindra & Mahindra has signed an MOU to enter into a strategic alliance with the country’s largest shared transportation platform, Ola, to empower 40,000 driver partners across India by 2018. Through this alliance, they aim overall vehicle sales and financing of over USD 400 million (INR 2,600 crores). Ola’s driver partners can now avail of an integrated and attractive ‘Mahindra-Ola’ package which will include Mahindra cars at special prices, attractive financing with zero down payment, and the best NBFC interest rates, subsidized insurance premiums, comprehensive maintenance packages, as well as exclusive benefits on the Ola platform.
This alliance seeks to encourage microentrepreneurship amongst drivers, to address India’s growing mobility needs. Mahindra and Ola will also explore other areas of joint collaboration to build the next generation of mobility solutions including those for unique transportation use cases. The Mahindra-Ola will also support drivers with accident insurance and scholarships for their children. This aligns with Mahindra’s Rise philosophy of empowering people with the right products and services to enhance the quality of their lives, and Ola’s focus on building an ecosystem that supports the entrepreneurial growth of driver-partners across the country.
Amidst the rapidly growing sharing economy, this alliance will create immense synergies and address the country’s growing need for mobility offerings, which will play a key role in the realization of India’s socioeconomic development agenda.