Hyundai and Kia Motors have committed a combined $300m in funding to Ola as part of a strategic partnership that will drive an expansion of the latter’s electric vehicle fleet.
Automotive manufacturers Hyundai and Kia agreed today to invest a total of $300m in India-based ride hailing service provider Ola through a strategic partnership agreement.
Founded in 2011 as OlaCabs, Ola operates an on-demand ride app that is currently available in more than 125 cities across India, Australia, New Zealand and the UK. It makes use of a network of more than 1.3 million private and traditional, metered taxi drivers.
Ola has also launched tangential services such as a mobile…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
