Hyundai and Kia Invest $300M in Ola to Develop EVs, Infrastructure and Fleet Solutions

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 $300 million in Ola.