Rapido Ramps Up 4-Wheeler Play to Take on Ola, Uber

Ride-hailing company also plans to double its presence in India across segments this year

- Rwit Ghosh

Rapido is shifting gears. Known for its bike taxis, the ride-hailing company is now doubling down on four-wheelers as it chases a bigger share of India's cab market, which is dominated by Ola and Uber.

"Currently, we're north of 20% market share in four wheelers. We're looking to be at over 30% pan-India by the end of 2025," Pavan Guntupalli, one of Rapido's co-founders, told Mint in a telephone interview.

Rapido also plans to double its presence across cities in India across segments this year. "From our existing 120 cities, we will be going to 500 cities by the end of the year," said Guntupalli.

The company did not respond to Mint's queries about which cities it is targeting for its four-wheeler growth, or how much it planned to invest in this expansion.

According to research from equity advisory firm Equentis, as of December 2024, Uber dominated the cab category with 50% market share, with Ola sitting at 34% and Rapido at 14%.

Rapido is banking on its "unique" approach to the ride-hailing market for its four-wheeler push. Unlike incumbents Ola and Uber, which operate on a commission-based model, Rapido has taken a subscription-based approach or SaaS (software as a service) model.