Ola shuts down used cars and quick commerce businesses to focus on EVs and ride-hailing.

The Ola Cars infrastructure, technology, and capabilities will now be repurposed towards growing our Ola Electric sales and service network.

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Ola shuts down used cars

The majority of shared mobility Ola has shut down its used car division Ola Cars just eight months after it launched, as it focuses on its electric vehicle and mobility businesses.

According to sources, the company has also shut down Ola Dash, its quick commerce arm. A company spokesperson confirmed the development and stated that Ola has reassessed its priorities and decided to close the quick commerce business. the Ola Cars infrastructure, technology, and capabilities will now “be repurposed towards growing our Ola Electric sales and service network,” said the spokesperson.

The company claimed that its ride-hailing business is delivering its highest ever gross merchandise value (GMV) month after month while maintaining very strong profitability and that its young EV business has already become India’s largest EV company within months of launch.

“We’re very excited and focused on our mission to accelerate the electric revolution in India and scale our mobility services to serve 500 million Indians. With our strong balance sheet, we’re increasing our pace of investments and growth into new areas like electric cars, cell manufacturing, and financial services,” added the spokesperson.

Ola launched its used cars platform last October and appointed Arun Sirdeshmukh as its chief executive. It was to rival the likes of Spinny, Droom, Cars24, and Olx. However, last month, Sirdeshmukh quit the company. The same month, the company closed operations in five cities, BusinessLine reported citing sources.

Ola launched its used car platform in October and appointed Arun Sirdeshmukh as CEO. It was to compete with Spinny, Droom, Cars24, and Olx. However, last month, Sirdeshmukh quit the company. The same month, the company closed operations in five cities

The shutting down of used car operations happens at a time when the used car market in India is booming and scaling new peaks. To be sure, Ola has had a long history of closed businesses as Aggarwal rushed from one big idea to the other. In April, the company reportedly let go of 2,100 employees operating its dark stores for Ola Dash. 

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