India’s leading utility vehicle maker Mahindra and Mahindra and taxi aggregator Ola are entering into a strategic alliance that will offer an integrated package of Mahindra vehicles, finance, insurance and other services to Ola’s driver partners, the two companies announced here on Thursday.
Through the alliance, M&M and Ola aim for vehicle sales and financing of over Rs 2,600 crore.
“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, subsidised insurance premiums, comprehensive maintenance packages..., “ the companies said.
Mahindra and Ola will also explore other areas of joint collaboration to build the next generation of mobility solutions.
“Our alliance with Mahindra will help build significant scale by innovatively building more mobility options and newer use cases in the time to come,” said Bhavish Aggarwal, co-owner and CEO, Ola.
Anand Mahindra, the chairman of Mahindra Group, said the dynamics of the auto industry are changing and sharing economy, autonomous and renewable energy vehicles will shape the future of the industry.
“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,” Mahindra said.
Mahindra and Ola partnership is a part of a growing trend of auto makers world wide collaborating with cab aggregators.
In June, Tata Group had inked a deal with Ola’s rival Uber to offer Uber’s driver partners to buy Tata cars with flexible financing and affordable insurance.