Hyundai, Kia Invest $300 Million In Mobility Service Provider Ola

Hyundai Motor Group today announced that it will be investing $300 million in India's raid hailing service Ola. The company has confirme...

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Hyundai Motor Group today announced that it will be investing $300 million in India's raid hailing service Ola. The company has confirmed that it will be a joint investment from Hyundai Motor Company and Kia Motors Corporation. This partnership between Hyundai Group and Ola will see the three companies come together to provide smart fleet and mobility solutions, building India-specific electric vehicles, and offering customised vehicles to aspiring driver partners on the Ola platform. Interestingly this announcement comes just days after a report on Hyundai intentions to buy 4 per cent stakes in the popular mobility service provider came to light.

Euisun Chung, Executive Vice Chairman Hyundai Motor Group said, "India is the centrepiece of Hyundai Motor Group's strategy to gain leadership in the global mobility market and our partnership with Ola will certainly accelerate our efforts to transform into a Smart Mobility Solution Provider."

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