Hyundai, Kia Join Hands With Ola For Mobility Solutions

 South Korean carmakers Hyundai Motor Group and Kia Corporation have announced a partnership under which they will invest $300 million (Rs 2062 crore) in one of India’s largest mobility service provider - Ola. The investment will be a part of the group’s initiative to become a smart mobility solutions provider.

The collaboration will see the three companies develop unique fleet and mobility solutions. This includes building India-specific EVs and infrastructure. The companies have also agreed to co-create solutions to operate and manage fleet vehicles, marking the group’s first step into the industry. Hyundai and Kia have also agreed to coordinate to develop tailor made cars by taking feedback during the service.

Speaking on the occasion, Euisun Chung, executive vice-chairman of Hyundai said, “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.” “Hyundai will proactively respond to market changes and persistently innovate to deliver greater values to our customers,” added Chung.

Bhavish Aggarwal, co-founder and CEO of Ola said, “We’re very excited about our partnership with Hyundai, as Ola progresses to build innovative solutions for a billion people. This partnership will also significantly benefit driver partners on our platform.”

The partnership will offer various financial opportunities for drivers, including lease and EMIs, thus making owning and driving a Hyundai or a Kia car a lot more affordable.

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Ola is one of India’s largest ride hailing companies. Founded in 2011 by Bhavish Aggarwal and Ankit Bhati, Ola integrates city transportation for customers and drivers onto a mobile technology platform.