The company shut Ola Cars within one years of its launch, as it focuses on its electric two-wheeler and car verticals.
Ola has so far shut down
"Ola has reassessed its priorities and decided to shut down Ola Dash - its quick commerce business. Ola will also be reorienting its Ola Cars business to focus more on strengthening the go-to-market strategy for
It added that Ola Cars' infra, technology and capabilities will be "repurposed towards growing Ola Electric's sales and service network".
Ola now aims to invest more towards its electric car, cell manufacturing, and financial services businesses.
Ola Dash shuts down at a time when India's quick commerce market is all set to witness 15 times growth by 2025, reaching a market size of nearly $5.5 billion.
The total addressable market for quick commerce in India stands at $45 billion, and urban areas are driving this market on the back of mid-high-income households.
In December 2021, Swiggy announced to pour $700 million into Instamart.
Last month, 10-minute delivery platform Zepto raised $200 million, taking its valuation to around $900 million.
Ola Electric is also facing scrutiny over faulty batteries in its electric two-wheelers, among other EV players like Okinawa Autotech, Pure EV, Jitendra Electric Vehicles, and Boom Motors, by the government.
The Bureau of Indian Standard (BIS), which comes under the Union Consumer Affairs Ministry, has published the "performance standards for electronic vehicle batteries" in a bid to keep a strict control over the manufacturing of EV batteries.
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