Leading taxi giant in India, Ola Cabs has signed a Memorandum of Understanding (MoU) with the government of Andhra Pradesh. The company is set to offer support to over 50,000 vehicles in the state in the next three years. The mission to join up with Andhra is to ensure reliable and safe transportation within the cities of AP.
To this effect, Ola has proposed an investment of INR 150 Cr in order to encourage driver entrepreneurship and generate employment opportunities within the state. Ola currently has 10,000 vehicles on his platform and intends to add 40,000 vehicles by the end of 2018.
Ola is already operational within Andhra Pradesh in five major cities; Vijayawada, Visakhapatnam, Guntur, Rajahmundry and Tirupati. With this MoU, Ola will now work towards the state government’s focus on transforming into a smart tourism hub.
Chief Minister of Andhra Pradesh, Sri N Chandrababu Naidu expressed his thoughts over signing the MoU
“Our vision is to create a smart and modern Andhra Pradesh and technology advancement is going to be extremely important to make this possible. Transportation is one of the most important areas where technology can make a big difference. Mobile technology driven transportation apps like Ola can play a major role in creating job opportunities for hundreds of thousands in the state as well as in providing timely and efficient transportation for all. We are confident that this tie up will benefit the entire transportation ecosystem in the state.”
Ola plans to have 100,000 driver partners by the end of 2016 and allocated INR 500 crore to start leasing experiment on bigger scale.