Ola raises $300 m from Kia, Hyundai to build EVs

Ola raises $300 m from Kia, Hyundai to build EVs

  • For Hyundai and its affiliate Kia, this is their second bet on the ride-hailing segment globally after backing Singapore-based Grab last year with a $250-million investment.
  • SMART MOBILITY BET Hyundai has been active in the new economy mobility space, having invested in Grab in November last year and then participated in the company’s $1.5-billion financing round earlier this month.
  • It also led a Rs 100-crore funding round in Indian car rental startup Revv in August last year.
  • Toyota scored its maiden investment in India’s startup ecosystem last year, having led a $30-million round in the used automobile marketplace and auto services company Droom last year.


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