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Ola to invest Rs 5,000 cr in leasing arm

Firm expects leasing arm to aid in adding 500 cars a day, in addition to 1,500 a day it empanels in its network

Ola to invest Rs 5,000  cr in leasing arm, add 100,000 cars by 2016

Ola, India’s largest app-based cab aggregator, will invest Rs 5,000 crore in a captive leasing subsidiary to finance about 100,000 cars by next year. The company expects its existing network of 250,000 vehicles will allow it to bargain with carmakers. It hopes the leasing arm will help add 500 vehicles a day, in addition to the 1,500 a day it empanels on its network. ALSO READ: Ola allowed to run only CNG cabs in Delhi ALSO READ: Ola allowed to run only CNG cabs in Delhi The company, which raised Rs 1,478 crore from existing investors in September, will ...