Ola Cabs has launched a loyalty programme called Ola Coin, besides reintroducing share cabs on its platform, as the company looks to reinvigorate its cabs business amid rising competition.
The company, which stands at #3 in the market, behind Uber and Rapido, has been rebranded as Ola Consumer, with a wider focus on commerce and other consumer services.
These announcements were made at Sankalp, the company’s flagship event in Bengaluru.
Bhavish Aggarwal, Founder and CEO of Ola Cabs, also announced that the company would launch a network of tech-enabled warehouses.
“This is the real future. No where else in the world has a 100% automated warehouse tech,” said Aggarwal, at the event that saw the launch of Ola’s electric motorcycles, marking marking its entry into the electric motorcycle segment.
Meanwhile, Ola Electric reported a wider net loss for the three months ended June 30, 2024, bogged down by higher costs. The electric scooter maker clocked a first-quarter net loss of Rs 347 crore compared with the Rs 267 crore loss incurred in the same period a year ago.
