Hyundai, Kia Invest $300m in Ola

Hyundai Motor Group (the Group) and Ola ― one of the world’s largest ride-hailing platforms ― today announced a strategic partnership under which Hyundai Motor Company (Hyundai) and Kia Motors Corporation (Kia) will make their biggest combined investment to date, as part the Group’s continued efforts to become a Smart Mobility Solutions Provider.

The agreement will see the three companies extensively collaborate on developing unique fleet and mobility solutions; building India-specific electric vehicles and infrastructure; as well as nurturing best in class opportunities and offerings for aspiring driver partners with customized vehicles, on the Ola platform. Hyundai and Kia will invest a total of USD 300 million in Ola.

“India is the centerpiece 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 Solutions Provider,” said Euisun Chung, Executive Vice Chairman of Hyundai Motor Group. “Hyundai will proactively respond to market changes and persistently innovate to deliver greater value to our customers."