Few months back, Anand Mahindra called Ola / Uber a threat and today they announced a strategic partnership with Ola.
Mahindra & Mahindra Ltd., part of the US$ 17.8 billion Mahindra Group, have signed an MOU to enter into a strategic alliance with the country’s largest shared transportation platform, Ola to empower 40,000 driver partners across India by 2018.
Through this strategic alliance, they aim to finance vehicle sales and financing of over US$ 400 million (Rs. 2,600 crores). Ola’s driver partners can now avail of ‘Mahindra-Ola’ package which will include Mahindra cars at special prices, attractive financing with zero down payment, and the best NBFC interest rates, subsidized insurance premiums, comprehensive maintenance packages, as well as exclusive benefits on the Ola platform.
The companies target 40,000 driver partners; worth US$ 400 million of vehicle sales and financing in 2 years.