Hyundai Motors in talks to invest in Ola: The Korean automobile producer Hyundai Motor is going to invest a hefty amount of $250 million on the Indian cab service providing company Ola. The amount will go around 1,752 crore according to the Indian National Rupee (INR). Hyundai Motor is going to hold a 4 per cent stake in Ola. This is not going to happen for the first time that an automaker is going to invest in cab service providing company. Previously Hero Motocorp invested in Ather, Toyota invested in Droom while Ford and Mahindra invested in Zoomcar. If Hyundai Motor makes the investment as big as mentioned in the reports then it is going to be one of the most significant and largest investments in one of the biggest mobility services in India.
Both Hyundai Motor and Ola are in the final stages of discussion as per the sources have confirmed. Both the companies are in the stage of finalising investment’s amount and other required details. The sources added that the deal is expected to close over the next few weeks. Hyundai Motors India denied making any statement on the deal.
If the deal is actually going to take place then it is going to be the most appropriate platform to introduce Hyundai cars into Ola’s fleet including the upcoming Hyundai Kona EV and other electrified variants of its existing vehicles.
Ola is currently looking for investments up to $400 million to $500 million. Previously Sachin Bansal, co-founder of Flipkart and Steadview Capital have already invested in Ola.