Taxi aggregator Ola on Monday announced that it has reduced its share cab fares by up to 45%, reported PTI. Fares in Mumbai and Bengaluru have been slashed the most, and have dropped as low as Rs 3 per km.

The app's share taxi facility can now be used across 10 cities after Ola extended the service to Ahmedabad, Chandigarh and Jaipur. The other cities where it is already available are Bengaluru, Chennai, Delhi, Hyderabad, Kolkata, Mumbai and Pune. The company's Chief Marketing Officer and Head of Categories Raghuvesh Sarup said, "Shared mobility is one of the key focus areas for Ola as it enables far-reaching benefits like reduced pollution and congestion-free roads."

He added that the success of this category of cabs was mainly because of the technology used. Sarup said the technology ensures that most of its rides are fully occupied and there is minimum deviation. According to company officials, the 'share' cabs have saved more than 48 lakh kg of carbon emissions and 20 lakh litres of fuel in the last eight to ten months.

Ola's biggest competition is taxi aggregator Uber, which dominated the China market before coming to India. According to SoftBank, India's taxi business may be worth up to $7 billion (approximately Rs 46,616.5 crore) by 2020, Livemint reported.