Hyundai is a company which has dominated the Indian auto market. It has a lot of competition from the Japanese counterpart Suzuki but Hyundai has its own market which is trying to handle with care. The company has a unique eye for detail and has always stunned the consumers with their superb designs and wonderful interiors. That being said, the company also has a lot of things and has entered new businesses time and again.
Point being, the South Korean giant has a different fan base and has loyal customers in India. Keeping that in mind, the company has invested around $300 million in Ola’s electric vehicle business. This is where the company is looking forward to India. It is trying to have EVs way before than everyone and has invested a huge amount into it. However, the company has made a deal with OIa for a different reason, the South Korean giant along with its affiliate Kia, is going to supply Ola with electric cars. The first set of those electric cars will be supplied in 2022.
The wait is not for the research but the Indian infrastructure to catch. That said, the Indian market is the biggest market for Hyundai and their global strategies are also taking place keeping in mind the Indian market. With the sub-continent market being the center of almost everything, the company keeps its feet on the ground. It has managed to reach newer heights with their latest hatchback launches but the EV market is different.
Vice Chairman of Hyundai, Euisun Chung, was talking about the same during a media event. He said that the company’s partnership with Ola will be crucial. “India is the centerpiece of Hyundai Motor Group’s strategy to gain leadership in the global mobility market and our partnership with Ola will certainly accelerate our efforts to transform into a Smart Mobility Solutions Provider,” Chung opined.
Bhavish Aggarwal was also happy with Hyundai coming on board. He said that this partnership is going to benefit the entire driver-partner relationship on their platform. The company will also provide solutions to certain sustainability problems in the entire country.
“This partnership will also significantly benefit driver-partners on our platform, as we collaborate with Hyundai to build vehicles and solutions that enable sustainable earnings for millions of them, in the time to come,” Bhavish said in a media statement.
Hyundai and Ola will be a partnership to keep an eye on. The duo can change the entire countries face after having a strong grip in two of the major vehicle markets. The cab-hailing market is dominated by Ola alongside Uber and the traditional car market is majorly owned by Hyundai after Maruti Suzuki in India. This gives a huge boost to the Indian people who are looking forward to buying some electric vehicles or are working their way towards sustainability.