BREAKING NEWS
This content is not available in your region

Hyundai Motor, Kia to invest $300 million in India's Ola

Hyundai Motor, Kia to invest $300 million in India's Ola
FILE PHOTO: The Hyundai logo is seen during the first press day of the Paris auto show, in Paris, France, October 2, 2018. REUTERS/Regis Duvignau   -   Copyright  REGIS DUVIGNAU(Reuters)
Text size Aa Aa

(Reuters) – South Korean automakers Hyundai Motor Co and Kia Motors Corp will together invest $300 million in Indian ride-hailing platform Ola, Hyundai Motor and Ola said on Tuesday.

The three companies will collaborate to develop fleet and mobility solutions, electric vehicles and infrastructure specific to the Indian market, they said in a joint statement.

The deal, Hyundai and Kia’s biggest combined investment, marks Hyundai Motor’s foray into fleet vehicles as the company expands operations to total fleet solutions.

Ola’s drivers will be offered financial services like lease and instalment payments, the companies said.

(Reporting by Tanvi Mehta in Bengaluru; Editing by Subhranshu Sahu)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.