South Korea’s multinational automotive manufacturers Hyundai and Kia have partnered with Ola by investing $300 million in the Indian cab hailing company to develop electronic vehicles and charging infrastructure.
The move is set to boost the efforts of South Korean automobile majors to transform into smart mobility solution providers, as the partnership with Ola will help them to develop electric vehicles ecosystem and fleet services in India for the world market.
According to Bhavish Aggarwal, Co-founder and CEO of Ola, the three companies will collaborate to “bring to market a new generation of mobility solutions”. The partnership will also positively impact driver-partners associated with Ola, as the cab hailing company will collaborate with Hyundai to build future mobility solutions to ensure sustainable earnings for them, Aggarwal said.
The collaboration will offer Ola drivers various financial services like lease and instalment payments, while vehicle maintenance and repair services are expected to enhance customer satisfaction, the company said.