Indian ride-hailing startup Ola is driving into new countries like there’s no tomorrow.
Today (Aug. 07), the Bengaluru-based company announced it plans to launch in the UK. This comes just six months after the Softbank-backed firm ventured into Australia in its maiden overseas move.
“In India, they’ve mostly focused on metros and tier I cities. In tier II, I don’t know how much demand there is… So, they’re targeting developed markets like Australia and now the UK,” said Yugal Joshi, vice-president at research firm Everest Group. “In these markets, revenue per ride should be higher. Typically, you spend $20 to $30 (Rs1,400 to Rs2,000), which is way higher than what you’re spending (in India). The fuel cost also is cheaper there compared to India.”
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