Brief by Shorts91 Newsdesk / 12:23pm on 09 Apr 2024,Tuesday Business
Ride-hailing giant Ola announces the cessation of operations in the UK, Australia, and New Zealand to concentrate on its India business. Promoter ANI Technologies cites rapid growth and profitability in India, emphasizing the country's potential for electric mobility expansion. The decision reflects a strategic reassessment, aligning with Ola's mission to serve India's billion-strong population. Despite a narrowing consolidated net loss in FY23, Ola remains optimistic about leading India's mobility ambitions with technology-driven innovation, aiming for continued industry growth.
