Ola Exits UK, Australia, and New Zealand Markets to Focus on India

The ride-hailing company aims to capitalize on the growing Indian market and electric mobility.

Ola, a SoftBank-backed ride-hailing service, is shutting down its operations in the UK, Australia, and New Zealand to concentrate on its India business.
The company cites the rapid growth and profitability of its India operations as key reasons for its strategic refocus.
Ola's consolidated net loss narrowed to Rs 772.25 crore in fiscal 2023, indicating financial improvement.
The firm is excited about serving 1 billion Indians and leading the country's mobility ambitions with technology and innovation.
Ola's decision comes as it prepares for an initial public offering and begins construction of a 100GWh Gigafactory in Tamil Nadu.