In one of the more important strategic partnerships of the sort to have occurred lately, Ola is teaming up with Mahindra to offer drivers an integrated package that comes with Mahindra cars, financing, insurance and services. The move is expected to provide a significant boost to entrepreneurial opportunities in the niche as the partners aim to reach at least 40,000 drivers.
Mahindra & Mahindra Ltd. is a part of the huge $17.8 billion Mahindra Group and its partnership with Ola is a milestone for the Indian cab aggregator. Together, the companies will create a bunch of new entrepreneurial opportunities by offering a brand new integrated Mahindra-Ola package which will include Mahindra cars at special prices.
The companies have also signed a memorandum to this effect. Apart from these specially priced cars, the package will also offer drivers attractive financing with zero down payment, the best NBFC interest rates, subsidized insurance premiums, comprehensive maintenance packages, as well as exclusive benefits on the Ola platform.
So in short, if you are looking to join Ola as a driver-partner, this collaboration has just made things a whole lot easier for you.
Speaking on the topic, Anand Mahindra, Chairman, Mahindra Group said,
This is an initiative whose time has come, one that meets the current and future needs of Indian consumers, particularly younger ones who prefer shared mobility solutions. It also has a positive social impact on the lives and prospects of at least 40,000 driver owners, and their families.
To me, this is an important strategic alliance for the Mahindra Group, one that I believe will change the contours of our industry, while giving us the first mover advantage in the fast growing Sharing Economy of India.
Ola appeared to be equally excited at the prospect of the impending partnership and the huge boost it’s business can expect to receive as a result. As per Bhavish Aggarwal, Co-Founder and CEO, Ola
We are delighted to work with an iconic Indian brand like Mahindra to further our mission of building mobility for a billion Indians. As part of the strategic alliance between the two companies, we have created a unique solution to help tens of thousands of aspiring driver-entrepreneurs realize their dreams.
Our alliance with Mahindra will help build significant scale by innovatively building more mobility options and newer use cases in the time to come.
The scheme is certainly well-placed and should hopefully help create entrepreneurial opportunities in the country. People who are looking to join Ola and avail all the attendant benefits — such as better rates, flexible timings — but have been unable to do so because of the lack of a suitable vehicle, well, Mahindra has just provided them with a way out of their predicament.
The collaboration is mainly focused towards empowering driver partners who otherwise may not be able to invest in a car, to purchase one at a highly affordable price, and at upto zero down payment. It will also offer drivers with other benefits such as accident insurance and scholarships for their children. Meanwhile, the collaboration is also expected to hugely drive vehicle sales for Mahindra.
So basically, a win-win situation for everyone. Ola gets new driver-partners, Mahindra sells more vehicles and drivers get access to opportunities they would otherwise be unable to access.
Similar schemes are already underway in countries like the US, where Uber for example, allows people fulfilling a certain set of conditions to lease cars or purchase them at special discounts, and start driving. Along with the potential to enhance the companies business, such partnerships also have a huge bunch of benefits for the ecosystem and have the potential to change the lives of many people, for the better.