Mahindra and Ola enter into strategic alliance: to drive Entrepreneurship and Smart Mobility across India

Mumbai, 08 September 2016: Mahindra and Ola have signed an MOU to enter into a strategic alliance that aims to empower 40,000 driver partners and facilitate vehicle sales and financing of over US$ 400 million (Rs. 2,600 crores) by 2018. Ola’s driver partners can now avail of an integrated and attractive ‘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 other exclusive benefits.

The alliance brings together two prominent brands and is likely to encourage micro-entrepreneurship amongst drivers and address India’s growing mobility needs. Mahindra and Ola will also explore other areas of joint collaboration to build the next generation of mobility solutions including those for unique transportation use cases in the fast growing sharing economy.

The Mahindra-Ola package focuses on financial inclusion by 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 support drivers with accident insurance and scholarships for their children. This aligns with Mahindra’s Rise philosophy of empowering people with the right products and services to enhance the quality of their lives, and Ola’s focus on building an ecosystem that supports the entrepreneurial growth of driver-partners across the country.