South Korean automakers Hyundai Motor Co and Kia Motors Corp are set to invest $300 million in Indian ride-hailing platform, Ola.
The move follows the $275 million that the pair invested in Singapore-based ride-hailing firm Grab last year.
Hyundai, Kia and Ola will collaborate to develop fleet and mobility solutions, electric vehicles and infrastructure specific to the Indian market.
Ola’s other investors include SoftBank Group Corp and Tencent Holdings Ltd.
Hyundai is one of the biggest automakers operating in India, where affiliate Kia plans to start production this year at its first factory in the country.