OLA receives $300 Million investment; aims to introduce smart mobility solution

OLA Cabs,  co-founded by Bengaluru business men Bhavish Aggarwal  an Ankit Bhati received a combined 2,050+ crore Rupees (approximately 300 Million USD) from Hyundai and KIA Motors  to bring newer and needed transportation solutions to India.

The two South Korean companies will collaborate with OLA to produce electric vehicles and fleet solutions that are tailored for India’s requirement, we learned from sources. This strategic partnership aims to develop charging infrastructure for Electric Vehicles in India.

This new collaboration will bring an effective fleet management solution that could benefit the ride-hiring service OLA provides to Indian customers

In the days to come, the range of offering that OLA provides could also improve with this new announcement. Along with this, many new employment opportunities will also be created.

We learned that Ola aims to create over two million livelihood opportunities in the mobility ecosystem by 2022. This partnership will help accelerate micro-entrepreneurship in India’s growing pool of aspiring driver-partners. Ola already hosts over 1.3 million partners on its platform and will further empower hundreds of thousands more, with access to tailored offerings across vehicles, financing, insurance and more, substantially bringing down the total cost of ownership for partners.