Ola is shutting down its operations in the UK, Australia and New Zealand, six years after expanding to international markets as the Indian ride-hailing giant shifts focus to doubling down in the home market nation ahead of an initial public offering.
“Our ride hailing business is growing rapidly, and we remain profitable and segment leaders in India. The future of mobility is electric – not just in personal mobility, but also for the ride-hailing business and there is immense opportunity for expansion in India. With this clear focus, we’ve reassessed our priorities and have decided to shut down our overseas ride-hailing business in its current form in the UK, Australia and New Zealand,” an Ola spokesperson told TC in a statement.
This is a developing story. More to follow.
