Mahindra & Mahindra plans to enter the cab hailing business with ride sharing apps against competitors like Uber & Ola.
The company is betting on the expected rise of electric vehicles in India in the coming years & prefers them over the oil-run cars as taxis.
M&M had supplied over 40,000 cars to Ola in a span of 2 years.
Unlike Ola & Uber which spends a considerable amount in maintaining a strong consumer base, Mahindra will look for ‘niche solutions’ to attract consumers
A dramatic shift in the customer segment can be expected due to hassles like parking, insurance, maintenance, etc, & mould people towards using a ride-hailing or shared cab service in the near future.
Electric vehicles will not only reduce the cost of travel, especially for taxis but will also save 28 tonnes of carbon dioxide emissions every year which can be an added advantage for Mahindra with its fleet of electric vehicle cars.