Ola’s fight against Uber to get a $300-mn push from Hyundai and Kia

South Korean conglomerate Hyundai Motor Group and Indian ride-hailing company Ola have formed a strategic partnership under which the former’s automobile brands — Hyundai and Kia Motors — will invest $300 million in Bengaluru-based Ola. This would be the biggest combined investment for Hyundai and Kia to date. The partnership is expected to help Ola intensify its battle with US rival Uber, which is rapidly gaining share of the Indian market.

The three companies would collaborate on developing fleet and mobility solutions, building India-specific electric vehicles and infrastructure. They would also innovate opportunities for aspiring driver partners with customised vehicles on the Ola platform.