Ola shuts down used car business Ola Cars and quick commerce segment Ola Dash

Ola decided to close her used car business Ola Cars, less than a year after its launch. The adult of shared mobility has also decided to close Ola Dash, its fast trade segment, said CNBC-TV18.Arun Sirdeshmukh, the second -hand automotive business manager of Ola and Varun Dubey, marketing manager at Ola Electric, recently left the company.

In an official statement, Ola said it had closed Ola Dash, its fast trade activities, and that the overhaul of its car activity to focus more on strengthening its electric division.Ola plans to increase the pace of investments in electric cars, cellular manufacturing and financial services. Ola Electric exceeded Rs 500 income in the first two months of fiscal year 23 and the company will launch its second electric scooter before the end of the year.

MoneyControl had recently pointed out that Ola, who planned to list the scholarships this year, sought to lift a new financing cycle to a lower evaluation, meaning a lively reversal for startups after a 2021 record that has experienced evaluations high on public and private markets.

Ola has been evaluated for the last time to $ 7.3 billion when she lifted $ 139 million in her series J Round, led by Edelweiss Pe, Iifl and Sunil Munjal-Dirigés Hero Enterprises, in what seemed to be the Last financing round before its IPO.