Hyundai May Take 4% Stake In OLA For $250 Million

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OLA funding by Hyundai

Ola, India’s largest online transportation network company, is in talks with Hyundai Motor Company for investing about USD 250 million. In return, Korean auto giant Hyundai will acquire 4% stake.

According to the reports, everything has been discussed between executives and the deal could be closed in the next few weeks.

OLA funding by Hyundai in 2019

This deal will also help Hyundai to push their vehicle range to Ola Cabs fleet like – Hyundai Santro, Elite i20 and upcoming electric Kona EV.

Earlier, Hyundai India had led an Rs 100-crore funding round in car rental startup Revv.

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