Hyundai and Kia take a $300 million Ola ride into India´s electric vehicles space
(WorldNews Asia)

India’s electric vehicles (EV) space has just received a South Korean booster shot. Carmakers Hyundai Motors and Kia Motors today (March 19) announced that they plan to invest $300 million (Rs2,059 crore) in the EV initiative of India’s top cab-hailing company Ola. The two companies are tapping the app-based taxi space to increase sales of their EVs, as personal vehicle sales are yet to take off. Hyundai had led a Rs100-crore funding round in car rental startup Revv in August last year. Hyundai and Kia will also work with Ola...