20 March 2019 Current Affairs:
Hyundai Motor Company and Kia Motors Corporation together plans to invest $300 million in cab aggregator Ola. This will be the biggest combined investment by the two firms of the South Korean Hyundai Motor Group.
As part of the strategic collaboration, the three companies will work on developing unique fleet and mobility solutions, besides building India-specific electric vehicles and infrastructure.
Hyundai Motor Group expects to accelerate its transition from a ‘car manufacturer’ into a ‘Smart Mobility Solutions Provider’, as the partnership’s initiatives will allow it to engage in all aspects across the entire mobility value chain, including vehicle production, fleet operation, and mobility services.