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Best Drivers, Top Cars, No Cancellations; Ola Launches Prime Plus Premium Service According to a Twitter update, the service will go live for select customers in Bangalore

By Teena Jose

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Ola co-founder and CEO Bhavish Aggarwal, on Sunday, announced the launch of a new service by the company named 'Prime Plus'. Taking to Twitter, he said that, "Prime Plus: Best Drivers, top cars, no cancellations or operational hassles. The service will go live for select customers in Bangalore." He also added that he would be a frequent user of the new service and will share his experiences on Twitter.

Many users asked for more clarification on the membership of the service. One user said, "What will be the price difference? You should start a Prime+ membership where this gets included."

Aggarwal did not share the details about the pricing of the new service but in the screenshot of a booking he shared in his tweet, the cost of the trip is cheaper than Mini and other cabs on the platform. According to an ET report citing a close source, Prime Plus is likely to be priced higher than other categories. The report further added that the company won't be recruiting new drivers and cars for the new service and will use its existing fleet. Drivers with experience in the Ola marketplace with top ratings and other quality metrics will be eligible to drive for the new service.

As per previous media reports, ANI Technologies' other subsidiary Ola Electric is planning its stock market debut by the end of 2023. The company has appointed investment banking firm Goldman Sachs and Indian domestic bank Kotak Mahindra to manage the share sale. Also, the company's regulatory filings has reportedly revealed that earlier in May, US-based investment management company Vanguard, slashed the valuation of ANI technologies, the parent firm of Ola, by 35% to $4.8 billion.

Ola Electric was established in 2017 as a wholly-owned subsidiary of ANI Technologies, the parent entity of Ola Cabs. The company was started to reduce emission and fuel dependency of Ola's cabs, and shift to mass electric mobility. Recently, Bhavish Aggarwal had also announced its upcoming battery innovation center (BIC) in Bangalore, which is claimed to be Asia's largest Cell R&D facility.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.

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