Hyundai to supply EVs to Ola by 2022

According to a media report, Hyundai plans to supply mass market electric vehicles (EVs) to ride hailing firm Ola from 2022-23.

The report states that the cars will be based on a new platform designed to keep manufacturing costs low and could be priced under Rs. 10 lakh. Besides, the carmaker is reportedly investing in procuring batteries from a local partner in India.

Earlier this year, Hyundai and Kia had invested US$300 million in Ola. The companies will collaborate to create solutions to operate and manage vehicle fleets for the ride hailing firm.

At present, the Kona is the only electric vehicle sold by Hyundai in India. It is priced at Rs. 25.30 lakh (ex-showroom, India).

Source: Moneycontrol