Mahindra has agreed to sell and finance vehicles for 40,000 Ola drivers by 2018, a deal worth $400 million. Photo: Hemant Mishra/MintBangalore/Mumbai: Ride-hailing service Ola scored an agreement with Mahindra & Mahindra Ltd. to offer cars cheaply to drivers, a move aimed at fending off competition from Uber Technologies Inc. The Indian automaker has agreed to sell and finance vehicles for 40,000 Ola drivers by 2018, a deal worth $400 million, both companies said. Also Read: Why automakers like Mahindra are targeting India’s cab-aggregator marketThe alliance “seeks to encourage micro-entrepreneurship among drivers to address India’s growing mobility needs,” Ola and Mahindra said in a joint statement. They’re also battling taxi and three-wheeler drivers’ unions in several cities.

Source: Mint September 08, 2016 09:22 UTC