Ola and Uber Cancel Orders from Tata Motors and the Reason is Cyris Mistry
The popular cab aggregators, Ola and Uber have withdrawn a substantial number of orders of around 2.7 lakh vehicles from the largest automobile maker Tata Motors.
These companies that have been a valuable player in the ride-hailing space, obtain cars from automakers to make it available for the cab drivers on installments, but now it has lost a good number of orders. This event was the outcome of a clash between the chairman emeritus Ratan Tata and company’s former chairman Cyrus Mistry.
“How will Tata Motors justify turning away any proposal for a guaranteed offtake?“ asked Tata.
According to the reports, Ratan Tata was in talks with Ola co-founder Bhavish Aggarwal who was willing to obtain 10,000 Nanos and Indicas/Indigos from Tata Motors on an immediate purchase, a lease or a j...