Ola slashes fares to Rs 9/km

• Customers can now book a Sedan for Rs 12/km and a mini Rs 9/km
  
• Base fare for sedans is revised to Rs 100 for the first 5 km and Rs 80 for the first 4 km for Mini
  

Transportation app Ola announced a fare reduction in its Mini and Sedan category in the city. The price has been reduced from Rs 14/km to Rs 12/km for Sedans and from Rs 10/km to Rs 9/km for its Mini category. The base fare for sedans has also been reduced from Rs 150 for the first 6 km and from Rs 100 for the first 5 km to Rs 80 for the first 4 km.

Hyderabad currently has over 12,000 cabs on the Ola platform which offers cabs across three different categories i.e., mini, sedan and prime. The number of cabs in the city has seen a significant surge to cope with the ever increasing demand of the city as a result of which the average ‘Estimated Time of Arrival’ [ETA] for cabs is as low as 5 minutes.

This has also minimised the number of dry/unpaid trips for drivers resulting in better revenue for them. According to Ravi Teja, business head, Telangana at Ola, said, “This price revision is a result of increased efficiencies from the scale of operations. While drivers continue to make more revenue through better utilisation and more paid runs, we are passing on the benefits of this scale to customers. ” Ola has committed to an investment of $20mn in the next one year towards additional safety and security initiatives.