Ola to launch self-drive service, to invest $500 million

BENGALURU: Homegrown ride-hailing platform Ola will invest over $500 million to launch a ‘self-drive’ service aimed at broadening its portfolio of transportation solutions, according to two people directly aware of the company’s plans.

The investment will come from a mix of debt and equity over the next couple of years, according to one of the persons. Ola will deploy nearly 10,000 vehicles, including luxury sedans and SUVs, in major cities in coming months, said the person.

Confirming the plans to test a self-drive offering, an Ola representative said, “Basis market feedback, we will pilot (the service) in various formats such as rentals, subscription and corporate leasing in select cities in the coming weeks.”