In our recent Fuel for Thought Newsletter & Podcast, S&P Global Mobility experts share insights into the emerging t… https://t.co/TJDIWhDBWe
Ola signs up over 10,000 drivers ahead of London launch
Ola has announced that more than 10,000 drivers have registered on its platform in London (United Kingdom), three weeks after it divulged plans to commence operations in the city, reports the Times of India. The company plans to launch ride-hailing operations in London in the coming weeks. Simon Smith, head of international operations at Ola, said, "We are very excited that a large number of these registrations have occurred through referrals and word of mouth amongst drivers, reiterating their trust in the Ola platform and the attractiveness of our offer." Ola says that it will not charge drivers commission for the first two months, allowing them to retain 100% of their earnings.
Significance: This development comes just days after rival firm Uber lost its operating licence in London over safety failures In July, Ola received a one-year licence from London's transit authority, Transport for London (TfL), allowing it to operate private hire vehicles (PHVs) in the city . Ola's launch in London will mean it will have a presence in 10 large metropolitan areas in the UK. Ola claims to be the only app-based company to offer black cabs and PHVs in the UK. Ola introduced its services in the UK in Cardiff in August 2018. The company expanded its operations to Bristol in October 2018, followed by Bath and Exeter in November, Birmingham, Liverpool, and Reading this March, and Coventry and Warwick in October.
This article was published by S&P Global Mobility and not by S&P Global Ratings, which is a separately managed division of S&P Global.
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