South Korea (SK)-based automotive manufacturer Hyundai Motors and its subsidiary, Kia Motors, plan to commit 2,059 crore rupees ($300 million) in the electric vehicle (EV) initiative of Indian online transportation network company Ola.
Hyundai and Kia are tapping the app-based taxi space to boost sales of the companies' EVs.
The companies will also work with Ola to create new mobility solutions using electric-cars, develop India-specific EVs, and establish the infrastructure required for it.
Hyundai Motor said that its collaboration with Ola will certainly advance its efforts to transform into a smart mobility solutions provider.