Ola Waives Lease Rentals For Drivers of Company-Owned Cabs

Ola had leased out cabs to drivers who pay the company a monthly lease amount.

Ola has suspended services for the duration of the COVID-19 national lockdown.

(Photo: IANS)

Ride-hailing major Ola is waiving lease rentals for driver-partners who operate vehicles owned by the company's subsidiary, Ola Fleet Technologies under its leasing programme.

"We can confirm that we are fully waiving away lease rentals, akin to an EMI (equated monthly instalment), for driver-partners who operate vehicles owned by Ola's subsidiary, Ola Fleet Technologies, under its leasing programme," Ola said in a statement.

Ola’s statement added that these driver-partners and their spouses will also be covered against loss of income due to contraction of COVID-19 (up to Rs 30,000) as well as other medical support during this time.

Under its leasing programme, Ola offers a long-term lease for a car against a deposit and a daily rental amount depending on the city and the car model.

With the 21-day lockdown across the country already, driver-partners were concerned about loss of livelihood and payments that they would have to make in the form of a leasing fee.