Ola Partners Shriram Group for CNG Car Financing

New Delhi: Taxi aggregator Ola has partnered with Shriram Automall India and Shriram Transport Finance Company (STFC) to enable exchange of diesel cars and financing for CNG cars in the city.

Ola has been expanding the fleet of CNG vehicles on its platform following the crackdown on diesel taxis plying in the Capital after court orders.

Ola, backed by Japan’s Softbank Corp, has over 25,000 cabs registered in Delhi on its platform.

“Drivers will benefit from efficient exchange mechanism and optimum price advisory for their old cars through Shriram Automall as well as attractive finance schemes with convenient repayment options from Shriram Transport Finance Company,” Ola said in a statement.

The company expects thousands of drivers in Delhi to exchange their diesel vehicles for CNG vehicles over the next few months under this scheme, it added.

The Delhi High Court in its July 29 order had said it cannot remain a “bystander” while an online taxi aggregator “pollutes the city”.

Ola has tie-ups with car manufacturers like Maruti, Hyundai, Mahindra and Toyota for facilitating car purchases for its driver partners.

“We are committed to ensuring CNG adoption on our platform in Delhi. Over the past few months we have come up with various initiatives to increase the number of CNG vehicles on our platform,” Ola chief operating officer Pranay Jivrajka said.

At the same time, these partnerships have gone a long way in protecting the interests and livelihoods of tens of thousands of driver entrepreneurs in the state, giving them the benefit of smooth transition on the platform, he added.

Earlier in August, Ola had announced the launch of ‘Ola Green Pragati’ week through which it made available an opportunity for drivers in the city to purchase a new CNG car with benefits of up to Rs 1 lakh, including a discount of up to Rs 60,000 in partnership with dealers of manufacturers like Maruti, Hyundai and Tata Motors.