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Hyundai, Kia Invest $300 mn in India’s Ride-hailing Giant Ola

The nine-year-old firm had set up in 2018 Ola Electric Mobility Ltd to use battery-run cabs as a pilot project at Nagpur in Maharashtra

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Ola Cabs. Image source: Flickr

In their single biggest investment ever, Hyundai Motor Co and its affiliate Kia Motors Corp on Tuesday announced an investment of Rs 2,068 crore ($300 million) in India’s leading ride-hailing cab aggregator Ola.

The agreement will see the three companies collaborate on building India-specific electric vehicles and infrastructure and developing unique fleet and mobility solutions, Hyundai said.

“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,” said Bhavish Aggarwal, Co-founder and CEO of Ola.

Hyundai Motor and Kia Motors will invest $240 million and $60 million respectively in Ola.

As part of the strategic collaboration, the companies have agreed to co-create solutions to operate and manage fleet vehicles, marking the Hyundai Motor Group’s first foray into the industry, as they expand operations from automobile manufacturing and sales to total fleet solutions.

Ola Cab. Facebook

The partnership will offer Ola drivers various financial services, including lease and instalment payments, while vehicle maintenance and repair services are expected to enhance customer satisfaction, Hyundai said.

Hyundai, Kia and Ola also agreed to coordinate efforts to develop cars and specifications that reflect the needs of the ride hailing market.

Also Read- Tech Giant Apple Updates its iMac Line-up

Ola earlier this month raised Rs 400 crore from its early investors, including Tiger Global and Matrix India, to fund its electric mobility business.

The nine-year-old firm had set up in 2018 Ola Electric Mobility Ltd to use battery-run cabs as a pilot project at Nagpur in Maharashtra. (IANS)

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Ola Joins Hands with Microsoft Research to Measure Real-time Air Quality

The data along with traffic and speed data can provide information on bad air-quality hotspots in the city

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Ola
Ola Cabs. Pixabay

In a bid to support the government’s efforts to combat air pollution, private cab aggregator Ola and Microsoft Research on Monday joined hands to measure real-time street level air quality data in Delhi-NCR.

Particulate Matter (PM 2.5) data will be collected through sensors mounted on Ola’s fleet of vehicles.

Ola’s fleet of cars for this has been identified, based on complex algorithms to ensure maximum geographical coverage of data.

The sensors to be mounted in the engine compartment of the cars have been custom-made by a Delhi-based company Purelogic Labs India Pvt. Ltd.

“At Microsoft Research India, we have a track record of conducting research that addresses pressing societal issues with innovative technology. The recent launch of our Societal impact through Cloud and AI (SCAI) initiative enables us to deepen our engagement with like-minded collaborators. We are excited to be partnering with Ola on the critical challenge of air pollution, leveraging their reach in the country and our expertise in edge technologies such as IoT-based sensing and AI,” Venkat Padmanabhan, Deputy Managing Director, Microsoft Research India, said in a statement.

FILE - Microsoft Corp. signage is shown outside the Microsoft Visitor Center in Redmond, Wash.
FILE – Microsoft Corp. signage is shown outside the Microsoft Visitor Center in Redmond, Wash. VOA

The project is set to begin this month and is expected to collect millions of data points over the course of one year to complete the spectrum of variation in Delhi’s air-pollution.

“Air pollution is one of the biggest global environmental challenges of today. Most air-quality sensors today measure ambient air-quality which is not reflective of the street-level pollution people are subjected to on a daily basis. This project is part of ‘Ola City Sense’, a programme to provide intelligent data based insights to cities,” said Anand Shah, Head, Ola Mobility Institute.

Also Read: India’s Health System Underperforming: Niti Aayog

Under this partnership, Ola Mobility Institute and Microsoft Research will leverage their strong research and data science capabilities to jointly conduct research to provide periodic reports and insights from the data collected.

The data along with traffic and speed data can provide information on bad air-quality hotspots in the city. (IANS)