India’s Ola Cabs received approval from London’s transport regulator to start private hire vehicles (PHV) in the capital city of the UK. It is the first-ever platform to offer both PHVs and black cabs in the UK.
Ola UK Pvt. Ltd received a one-year carriage license from TFL to operate “PHV vehicles” across London.
It is required to apply for a license and lists their vehicle as a privately registered vehicle for hire. Ola would become the biggest threat to Uber in the UK since it has raised far more capital than the rest of the app-based taxi operators. It is raised around $190 million to $280 million in funding Ola’s massive war chest of $3.8 billion.
Ola with SoftBank Corp., Sequoia Capital, Accel, and automakers like Kia Motors and Hyundai as its investors. The company is continuing efforts to build a massive war with Uber especially in India.
1. Ola first entered the UK in August 2018.
2. They got with licenses to operate across south Wales.
3. It has a presence in 150 cities across India
4. Its operations in the UK, Australia, and New Zealand.
5. It serves more than 150 million users with more than a billion rides.