Ola founder and CEO Bhavish Aggarwal on Friday denied reports that Ola and Uber were considering a possible merger. Bhavish Aggarwal tweeted from his Twitter handle and said, ‘Absolutely rubbish! We are very profitable and are progressing well. If some other companies want to take their business out of India, they are most welcome! We will never merge.
Absolute rubbish. We’re very profitable and growing well. If some other companies want to exit their business from India they are welcome to! We will never merge. https://t.co/X3wC9HDrnr— Bhavish Aggarwal (@bhash) July 29, 2022
Indian cab aggregator Ola and Uber Technologies are looking at a possible merger, news agency INNS was quoted as saying. Ola CEO Bhavish Aggarwal meets top Uber executives. The report further said, ‘This report is false. We are not in talks with Ola for merger.
- Ola said that it is one of the most profitable ride hailing companies in the world with the strongest balance sheet.
- One company said, “We are the market leader in India and are much bigger than other players. Therefore, any kind of merger is completely out of the equation.
- Ola further said, ‘We believe that India has a lot of opportunities to unlock when it comes to mobility services.’
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On which things is Ola’s full attention-
Ola’s entire focus is on its two-wheeler and four-wheeler electric vehicles. For this, the company has recently closed its used vehicle business ‘Ola Cars‘ and quick commerce business ‘Ola Dash’. Ola is looking to invest more in its electric car, battery cell manufacturing and finance services business. Ola’s ride hailing business currently has over 1100 employees.
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