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Hyundai and Kia invest USD 300 million in Ola in India

Auto News - Published on Mon, 25 Mar 2019

Image Source: hyundai.com
Hyundai Motor Group and Ola announced a strategic partnership under which Hyundai Motor Company and Kia Motors Corporation 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.

As part of the strategic collaboration, the companies have agreed to co-create solutions to operate and manage fleet vehicles, marking the Group’s first foray into the industry, as they expand operations from automobile manufacturing and sales to total fleet solutions.

The partnership will offer Ola drivers various financial services, including lease and installment payments, while vehicle maintenance and repair services are expected to enhance customer satisfaction.

Hyundai, Kia and Ola have also agreed to coordinate efforts to develop cars and specifications that reflect the needs of the ride hailing market (both users and drivers). Data accumulated during service operation will allow the companies to make constant vehicle improvements to better meet local needs and specifications.

Source :

Posted By : Rabi Wangkhem on Mon, 25 Mar 2019
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