Ola Shuts Down Used Cars And Quick Commerce Businesses; To Focus On EVs

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The company has decided to reorient its used vehicles business Ola cars, less than a year after it was launched

Ola today announced that it has shut down the Ola Dash used car and quick commerce business. The company has decided to reorient its used vehicles business Ola cars, less than a year after it was launched. The company released a statement saying, “Ola has reassessed its priorities and decided to shut down Ola Dash- its quick commerce business. Ola will also be reorienting its Ola Cars business to focus more on strengthening the go-to-market strategy for Ola Electric.”

The company added saying that the Ola Cars infra, technology and capabilities will be repurposed towards Ola Electric’s sales and service network, thus clearly showing the company’s intention that the electric mobility business is at the heart of it all. 

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This certainly does not come as a surprise because according to the company Ola Electric commands a 50 per cent revenue share of the entire electric two-wheeler segment. It recently released data to support this statement as well. Between April and May 2022, the electric scooter manufacturer generated total revenue of ₹ 500 crore and the company says that it is well on track to surpass $ 1 billion or ₹ 7824 crore revenue by the end of the current financial year.

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In fact, Ola Electric is now planning to step into the electric car space as well. The company provided the first glimpse of its upcoming electric car during a customer event at its Futurefactory. All the teasers provided by the company direct to the new EV being a sedan and more details are expected to pop up by August 15. 

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