Hyundai invests $300 mn to help India's Ola battle Uber

phys.org | 3/19/2019 | Staff
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Indian taxi-hailing company Ola has secured a $300-million investment from South Korean car giant Hyundai, the firms said Tuesday, providing a major boost in its fight against US giant Uber.

Ola was launched in 2011 and is engaged in an aggressive battle with Uber in India's ride-hailing market, which is estimated to be worth around $10 billion and growing fast.

Money - Hyundai - Subsidiary - Kia - Motors

The new money, from Hyundai's subsidiary Kia Motors, will largely be used to help Ola increase its electric vehicle fleet, the companies said in a joint statement.

"Our partnership with Ola will certainly accelerate our efforts to transform into a...
(Excerpt) Read more at: phys.org
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