Ola to start operating in three Australian cities
This year so far has seen a few ride-hailing expansions. China’s (MCHI) ride-hailing giant, Didi Chuxing, recently said that it will be moving to Brazil (EWZ), with its acquisition of ride-hailing company 99, as well as to Taiwan.
Now, India’s (EPI) ride-hailing company, Ola, which competes fiercely with Uber on its home turf, is now making that competition international. The Indian company said that it will start recruiting drivers in the Australian cities of Sydney, Perth, and Melbourne. This is a big move by Ola, which has remained focused on gaining domestic market share—until now.
Ola has stated that it is working toward gaining the requisite approvals to launch its service in the above cities before rolling out its service across the country. The company said it will apply some of the same strategies that worked in India, such as a focus on drivers and a partnership with the government.
Ola may find it difficult to compete with Uber in Australia
However, Australia could be a difficult battleground for the Indian company, as Uber already operates in 20 cities in Australia (EWA) and New Zealand.
Ola was founded seven years ago and has 125 million registered users, with over a million drivers across 110 cities in the populous country. The Indian ride-hailing company has raised more than $2.5 billion from investors like Tencent (TCEHY), Didi Chuxing, and SoftBank over the past year.
Meanwhile, Uber, which is also backed by Japanese (EWJ) company SoftBank, is hoping to trim its losses before a probable IPO (initial public offering) next year.
Continue to the next part of this series for a look at the latest news from Alphabet’s Waymo.
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