Auto / Hyundai Motor, Kia To Invest $300 Million In Ola

NDTV : Mar 19, 2019, 10:56 AM

Hyundai Motor Co and Kia Motors Corp will together invest $300 million in Indian ride-hailing platform Ola, playing catch-up in the global race to invest in mobility firms. Hyundai, Kia and Ola will collaborate to develop fleet and mobility solutions, electric vehicles and infrastructure specific to the Indian market. Hyundai and Kia's biggest combined investment, marks Hyundai's foray into fleet vehicles.

The deal, Hyundai and Kia's biggest combined investment, marks Hyundai's foray into fleet vehicles.

Hyundai is one of the biggest automakers operating in India, where affiliate Kia plans to start production this year at its first factory in the country.

Ola's other investors include SoftBank Group Corp and Tencent Holdings Ltd.