Ola to launch single tap feature Instant, eyes 75% market share

In order to consolidate its position and woo more customers in Indian market, ride-hailing company Ola is planning to launch a new service called Ola Instant.

The users can hail a taxi with a single tap. “You won’t have to wait for availability or even key in the location before boarding,” said a person with anonymity to Factor Daily.

Ola has already begun training its best drivers for this service that will be available for a select set of users on Ola, according to the report. The company is also planning to redesign its logo. There will not be a radical change in the logo but it will be cleaner than previous one. However, Ola didn’t comment on the development.

It is also reported add features that use augmented reality and in-car functions, details of which aren’t very clear at the moment. Ola has already started testing the new app within a closed group, added the source.

Earlier, Ola has launched several features like Ola Play, auto rickshaw rides, and SMS-based booking to get an edge over Uber in India. Tencent has put in nearly $400 Mn into the ride-hailing startup, taking the latter’s valuation to $3.8 Bn.

Ola is also planning to invest heavily in electric vehicle project to grow the vertical alongside its cab booking service.

“We are focusing on building an e-vehicle fleet. More investment will go in it. We will update (you) soon it,” Bhavish Aggarwal CEO of Ola had said.

Indian plans to put six million electric cars on the road by 2020 and wants to go all electric by 2030.

At present, according to company’s insiders, it does roughly about 1.5 million rides a day whereas Uber claims that it serviced 9.4 million trips a week in July– that’s about 1.3 million trips a day. Presently, Ola has a 60% market share and wants to get to 75%. It is also eyeing profitability.

And the company wants to continue its aggressive bets. Ola seems to be working towards position where it wants to own the market. How the tussle between Ola and Uber amidst evolving market pans out only time will tell.