Ride-hailing on a rollercoaster ride with sharp twists, turns

Over the last 12-15 months, India’s ride-hailing ecosystem has undergone an upheaval with Rapido cruising, BluSmart and Ola losing ground, Namma Yatri maturing, and in the latest — the central government foraying into this space.

These developments have reshaped market shares in the four-wheeler segment where WestBridge Capital-backed Rapido has broken into the Uber-Ola duopoly to grab a 20% share, industry executives said.

Uber continues to command a roughly 50% chunk in the segment with Ola holding most of the remaining 30%, but the latter’s…