Mahindra & Mahindra Ltd
has signed an MOU with shared transportation platform, Ola to empower 40,000
driver partners across India by 2018. Through this strategic alliance, they aim
overall vehicle sales and financing of over US$ 400 million (Rs. 2,600 crore).
Ola’s driver partners can now avail of an integrated ‘Mahindra-Ola’ package
which will include Mahindra cars at special prices, financing with zero down
payment, and the best NBFC interest rates, subsidised insurance premiums,
comprehensive maintenance packages, as well as exclusive benefits on the Ola
This unique alliance, which
brings together two of India’s most prominent brands, seeks to encourage micro entrepreneurship
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
According to Anand Mahindra,
Chairman, Mahindra Group, “This is an initiative whose time has come, one that
meets the current and future needs of Indian consumers, particularly younger
ones who prefer shared mobility solutions. It also has a positive social impact
on the lives and prospects of at least 40,000 driver owners, and their
families. To me, this is an important strategic alliance for the Mahindra
Group, one that I believe will change the contours of our industry, while
giving us the first mover advantage in the fast growing Sharing Economy of
Bhavish Aggarwal, Co-Founder
and CEO, Ola said, “We are delighted to work with an iconic Indian brand like
Mahindra to further our mission of building mobility for a billion Indians. As
part of the strategic alliance between the two companies, we have created a
unique solution to help tens of thousands of aspiring driver entrepreneurs realise
their dreams. Our alliance with Mahindra will help build significant scale by
innovatively building more mobility options and newer use cases in the time to
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