Ride In Style: Armed With $500 Million War-Chest, Ola To Let You Rent BMW, Mercedes For A Subscription Mercedes luxury car. (Unsplash/William Stitt)

Bengaluru-based ride-hailing services company Ola is all set to introduce subscription based self-driving services for its customers. The company is in talks with luxury car makers including BMW, Audi and Mercedes for the same, reports Mint.

With an investment of upto $500 million, the company is all set to launch the services in multiple cities in coming weeks under Ola Fleet Technologies. Ola has been running these services as a small scale project in Bangalore where it customers self-drive few of these luxury cars.

Subscription-based car rental services are popular in the United States, and Ola sees a huge potential in bringing it to India. The company already allows customers to books luxury car rides through its Lux Category.

Subscription-based vehicle service is where a customer pays a recurring fee for the right to use one or more automotive vehicles. These subscriptions offer insurance and maintenance as part of the fee and a few other allow the subscriber to switch between different vehicles during their subscription period. This model is seen as an alternative to owning or leasing a vehicle.

The company is backed by Softbank and Tencent Solutions and a few other investors. It recently saw an investment of $300 million from Hyundai and Kia motors and a ₹650 crore funding from Flipkart co-founder Sachin Bansal.

An Appeal...

Dear Reader,

As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.

Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.

We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.

Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.

Become A Patron
Become A Subscriber