Ola Raises $300 Mn From Hyundai, Kia To Fund Its E-Mobility Dream

Ola Raises $300 Mn From Hyundai, Kia To Fund Its E-Mobility Dream

SUMMARY

The three companies will develop a unique fleet of electric vehicles and charging infrastructure

This is a strategic investment by the automakers to establish themselves as smart mobility solutions provider

The partnership will offer Ola drivers various financial services, including lease and instalment payments

Ride-hailing unicorn Ola has raised $300 Mn from South Korean automaker Hyundai along with its affiliate Kia Motors to fund a strategic partnership under which the three companies extensively collaborate on building India-specific electric vehicles and infrastructure.

Commenting on the funding, Bhavish Aggarwal, cofounder and CEO Ola said, “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.”

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