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Mahindra and Ola to Drive Entrepreneurship

Anand Mahindra (L), chairman and managing director of Mahindra Group, and Bhavish Aggarwal, CEO and co-founder of Ola, an app-based cab service provider, take a selfie during a news conference in Mumbai, India, September 8, 2016. REUTERS/Danish Siddiqui

Mahindra & Mahindra 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 overall vehicle sales and financing of over US$ 400 million (Rs. 2,600 crores). 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 exclusive benefits on the Ola platform.

This unique alliance, which brings together two of India’s most prominent brands, seeks to encourage micro-entrepreneurship amongst drivers, to 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.

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 up to 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.  -AutomotiveWorld

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