wordpress blog stats
Connect with us

Hi, what are you looking for?

Ola raises $300M from Hyundai and Kia, to work on fleet mobility and EV infrastructure

Ola has raised $300 million from South Korean car makers Hyundai Motor Group and Kia, it said in a statement. Ola has also signed partnerships with Hyundai and Kia where the three will work on becoming a “Smart Mobility Solutions Provider”, develop fleet and mobility solutions and work on India-specific electric vehicles (EVs) and infrastructure. Through the partnership, Ola will use data from service operations to improve its vehicles and meet local needs. It will offer Ola drivers financial services like lease and install payments, vehicle maintenance and repair services, without specifying how. Ola aims to create 2 million jobs by 2022, up by 700,000 from the current 1.3 million drivers it has. Earlier this month, Mint reported that Ola was talking to Indian car makers to get custom electric and connected “Special Purpose Vehicles.” It is unclear which companies Ola was talking to, and whether this development is connected with its fundraise and tie up with Hyundai and Kia. Ola also has a strategic tie up with Mahindra & Mahindra, which manufactures electric cars in India. As of December 2018, Hyundai had a 16.4% market share in the country, while Kia, which hasn’t released any cars in India yet, is targeting a 6-7% market share by 2021. Kia also planned to launch 25 EVs worldwide by 2025. Ola Electric’s fundraise Note that earlier this month, Ola’s Electric Mobility arm raised Rs 400 crore led by investors Tiger Global, Matrix India and other unnamed investors. Ola Electric is an independent…

Please subscribe/login to read the full story.
Written By

I'm a MediaNama alumna from 2015-16 (remember TinyOwl?) now back to cover e-services like food and grocery delivery, app based transport and policies, platforms and media in India.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

Studying the 'community' supporting the late Sushant Singh Rajput (SSR) shows how Twitter was gamed through organized engagement

News

Do we have an enabling system for the National Data Governance Framework Policy (NDGFP) aiming to create a repository of non-personal data?

News

A viewpoint on why the regulation of cryptocurrencies and crypto exchnages under 2019's E-Commerce Rules puts it in a 'grey area'

News

India's IT Rules mandate a GAC to address user 'grievances' , but is re-instatement of content removed by a platform a power it should...

News

There is a need for reconceptualizing personal, non-personal data and the concept of privacy itself for regulators to effectively protect data

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ