In brief: Ola fuels up with $300m from Hyundai, Kia

• Indian ride-hailing app Ola has secured a US$300 million investment from Korean automakers Hyundai and Kia.
• The deal includes Hyundai and Kia providing Ola’s 1.3 million drivers with customized vehicles and financial support to lease vehicles and pay in installments.
• Ola has raised US$3.5 billion since its late 2010 launch to fuel its battle with Uber. Last year, it expanded to Australia and New Zealand.
• Hyundai is India’s second-largest car brand, while sister brand Kia entered the country this year.

Source: VentureBeat