Hyundai and Kia invest $300m in ride-hailing firm Ola

Hyundai Motor and Kia Motors are investing $300 million in ride-hailing firm Ola to develop smart mobility solutions in India. The partners will also work together to develop fleet solutions as well as electric vehicles (EV) and infrastructure. Hyundai will work with Kia and Ola to develop cars for a ride-hailing service. Data gathered during the service operation will allow the companies to make vehicle improvements. Ola drivers will receive various financial services including lease and instalment pa
March 29, 2019 Read time: 2 mins

1684 Hyundai Motor and 5229 Kia Motors are investing $300 million in ride-hailing firm Ola to develop smart mobility solutions in India.

The partners will also work together to develop fleet solutions as well as electric vehicles (EV) and infrastructure.

Hyundai will work with Kia and Ola to develop cars for a ride-hailing service. Data gathered during the service operation will allow the companies to make vehicle improvements.

Ola drivers will receive various financial services including lease and instalment payments.

Bhavish Aggarwal, co-founder and CEO of Ola, says: “This partnership will also significantly benefit driver-partners on our platform, as we collaborate with Hyundai to build vehicles and solutions that enable sustainable earnings for millions of them, in the time to come.”

Earlier this month, Ola Electric Mobility, a company backed by Ola, raised 4 billion rupees (£42m) in an initial funding round as part of a stated %$Linker: 2 External <?xml version="1.0" encoding="utf-16"?><dictionary /> 0 0 0 link-external ambition false http://www.itsinternational.com/sections/general/news/ola-electric-mobility-raises-42m-in-funding-round/ false false%> to bring one million EVs to India by 2022.

Urban Traffic Control

For more information on companies in this article

Related Content

  • MaaS Global and Mitsui to trial Whim in Japan
    May 8, 2019
    MaaS Global is trialling its Mobility as a Service (MaaS) platform Whim in Japan in a tie-up with property developer Mitsui Fudosan. The Finnish company says both parties will collaborate with local transport service providers and conduct a ‘proof of concept’ trial in the Greater Tokyo area, prior to a planned launch later this year. The partnership allows MaaS Global to employ what CEO Sampo Hietanen calls “our Real Estate x MaaS vision: the next evolution phase to combine living and mobility”. Mitsu
    Read More
  • Quantum XYZ intends to launch air taxi service in Los Angeles
    December 4, 2018
    Quantum XYZ is seeking to use SureFly’s eight-rotor hybrid ‘octocopters’ to launch an air taxi service in Los Angeles. SureFly, a subsidiary of US technology company Workhorse, is currently pursuing Federal Aviation Administration (FAA) type certification for its electric vertical take-off and landing (eVTOL) aircraft. Quantum intends to submit an application to become a FAA-certified urban VTOL air carrier. The company’s president, Tony Thompson, says: “Once SureFly receives FAA Type certification, we
    Read More
  • Self-driving bus collides with pedestrian in Vienna
    July 24, 2019
    A self-driving bus trial in the Austrian capital Vienna has been halted after a collision between a vehicle and pedestrian, says Bloomberg. Authorities are now investing the cause of the incident which led to minor injuries. According to Bloomberg, state broadcaster ORF says the Navya vehicle was driving at 7.5 miles per hour when it hit the 30-year-old woman in the knee. In a statement given to The Verge, Navya said witnesses had seen the pedestrian wearing headphones and looking at a mobile phon
    Read More
  • Volvo Group Venture Capital invests in wireless electric charging
    January 17, 2019
    Volvo Group Venture Capital has invested in Momentum Dynamics – a company which provides wireless charging technology for commercial electric, connected and autonomous vehicles (C/AVs). Per Adamsson, vice president at the Volvo subsidiary, says: “High capacity charging up to 300 kW for trucks, buses, construction equipment, industrial and marine applications will support the electrified transition.” Wireless electric charging is expected to allow any vehicle to automatically connect to the electrical
    Read More

Highlighted Content