Uber rival Ola gears up to expand
UBER rival Ola Cabs is set to race ahead with an expansion across the UK as it prepares to launch in a string of new cities, despite suffering a hit from coronavirus.
The taxi start-up, founded in Mumbai and backed by Japanese technology investor SoftBank, will launch in a string of cities across Britain over the next three months, including Manchester, Nottingham,
Leicester and Cambridge.
Ola’s expansion will add to 26 cities where the company currently offers a taxi service, after starting two years ago in Wales with Cardiff and Newport.
It comes at a critical time for the firm as bosses struggle to move beyond damage wreaked by strict lockdown measures.
Bhavish Aggarwal, Ola’s chief executive told staff in
May that the company would cut 1,400 jobs – roughly 35pc of its full-time workforce – as restrictions on movement to combat the spread of coronavirus caused bookings and income to plummet.
Marc Rozendal, UK managing director, said he expects demand for services to return to pre-Covid levels by the end of the current quarter, giving Ola the confidence to push ahead with the expansion.