What happened? Ride-sharing platform Ola shut down its used vehicle business Ola Cars along with Ola Dash, its quick-commerce business on June 25, at a time when Indian companies are pouring money into the 10-15 minute grocery delivery market. The company said that it will look to focus on its electric vehicles and mobility businesses from here on. "With this clear focus, 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 go to market strategy for Ola Electric. Ola Cars’ infra, technology and capabilities will be repurposed towards growing Ola Electric’s sales and service network," the company said in a statement. It added that Ola Cars' infrastructure, technology and capabilities will be "repurposed towards growing Ola Electric's sales and service network". Ola maintains that its cab aggregator business is still its highest gross merchandise value generator. The Bengaluru-based unicorn said that it plans to expand into electric cars, cell manufacturing and financial services. Why it matters? This is the fourth time that Ola is exiting from the food delivery and quick commerce domains since 2015. Meanwhile, Ola Cars was just one year old at the time of retirement. Both stints were short-lived and come at a time when other companies are looking to get into the quick commerce markets even as the market shrinks day by day, resulting in cut throat competition. How did Ola get here? Ola and food:…
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