Ola raises $300M as part of a new electric vehicle partnership with Hyundai and Kia

TechCrunch | 3/19/2019 | Staff
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Ride-hailing platform Ola announced today that it has raised $300 million from Hyundai and Kia as part of a strategic partnership focused on electric vehicle development.

This brings the company’s total raised to $3.8 billion according to Crunchbase. Ola’s last funding was announced just three weeks ago, when the company said it had raised $56 million in early funding by investors including Tiger Global and Matrix India (two of its earliest backers) to spend on its recently spun-out electric vehicle business called Ola Electric Mobility.

Press - Release - Ola - Partnership - Vehicles

In a press release, Ola said the partnership will build “India-specific” electric vehicles and infrastructure customized for Ola’s fleet and operating and management software. It also includes new financing programs, such as loans and installment payments, for driver who want to purchase the EVs.

Ola Electric Mobility’s...
(Excerpt) Read more at: TechCrunch
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