One of the biggest cab service provider of India, Ola has got an investment of almost Rs 2,000 crore by Korean manufactures Hyundai and Kia. The investment is made to improve the future of mobility solutions in India.
Hyundai and Kia will also provide their electric vehicles infrastructure in India. Hyundai will also offer custom Hyundai and Kia vehicles for ola and help drivers with financing and insurance benefits. The investment amount is among the biggest done by Hyundai group. Hyundai, Kia and Ola together will contribute towards the betterment of mobility solutions under this partnership.
On this occasion, Bhavish Aggarwal, Co-founder and CEO of Ola Cabs said, “We’re very excited about our partnership with Hyundai, as Ola progresses to build innovative and cutting-edge mobility solutions for a billion people. Together, we will bring to market a new generation of mobility solutions, as we constantly expand our range of offerings for our consumers. 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.”
This partnership will also create over two million job opportunities by 2022 as Ola projects. Right now Ola has over 1.3 million partnership on its platform and this will help them expand even further.
While Euisun Chung, Executive Vice Chairman from Hyundai Motor Group commented “India is the centrepiece 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 value to our customers.”
So the partnership aims to improve the mobility solutions for India as well as provide more job Opportunites, as well as set up the structure for EVs.