Motor Group and Ola, one of the world’s largest ride-hailing platforms,
announced a strategic partnership under which Hyundai Motor Company (Hyundai)
and Kia Motors Corporation (Kia) will make their biggest combined investment to
date, as part the Group’s continued efforts to become a smart mobility
agreement will see the three companies extensively collaborate on developing
unique fleet and mobility solutions; building India-specific electric vehicles
and infrastructure; as well as nurturing best in class opportunities and
offerings for aspiring driver partners with customised vehicles, on the Ola
platform. Hyundai and Kia will invest a total of USD 300 million Rs 2062.82
crore approx.) in Ola.
is the centerpiece 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,” said Euisun
Chung, Executive Vice Chairman of Hyundai Motor Group. “Hyundai will
proactively respond to market changes and persistently innovate to deliver
greater value to our customers, " he added.
As part of the strategic collaboration, the
companies have agreed to co-create solutions to operate and manage fleet
vehicles, marking the Group’s first foray into the industry, as they expand
operations from automobile manufacturing and sales to total fleet solutions.
partnership will offer Ola drivers various financial services, including lease
and installment payments, while vehicle maintenance and repair services are
expected to enhance customer satisfaction.
Kia and Ola have also agreed to coordinate efforts to develop cars and
specifications that reflect the needs of the ride hailing market (both users
and drivers). Data accumulated during service operation will allow the
companies to make constant vehicle improvements to better meet local needs and
Motor Group expects to accelerate its transition from a ‘car manufacturer’ into
a ‘Smart Mobility Solutions Provider’, as the partnership’s initiatives will
allow it to engage in all aspects across the entire mobility value chain ?
including vehicle production, fleet operation and mobility services.
aims to create over two million livelihood opportunities in the mobility
ecosystem by 2022. This partnership will help accelerate micro-entrepreneurship
in India’s growing pool of aspiring driver-partners. Ola already hosts over 1.3
million partners on its platform and will further empower hundreds of thousands
more, with access to tailored offerings across vehicles, financing, insurance
and more, substantially bringing down the total cost of ownership for partners.
Aggarwal, Co-founder and CEO of Ola 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." He added, "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."
Source: Hyundai Motor India
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