Hyundai To Supply 5,000 Cars To Middle East Ride-hailing Firm
Hyundai Motor Co., South Korea's largest carmaker by sales, said Thursday it will supply 5,000 vehicles to Middle Eastern ride-hailing firm Careem Networks FZ by December
SEOUL, (UrduPoint / Pakistan Point News - 16th May, 2019 ):Hyundai Motor Co., South Korea's largest carmaker by sales, said Thursday it will supply 5,000 vehicles to Middle Eastern ride-hailing firm Careem Networks FZ by December.
The move is part of Hyundai's drive to transform itself into a smart mobility solutions provider in the long term.
Hyundai plans to deliver 5,000 units of the Sonata and Grandeur sedans, and the Tucson and Santa Fe sport-utility vehicles, to Careem Networks by the end of this year.
Careem Networks, which was acquired by Uber Technologies Inc.
for US$3.1 billion in March, provides car-hailing services in 120 cities of 15 countries in the Middle East and North Africa, according to Hyundai Motor.
In recent years, Hyundai has increased its investments in car-hailing firms to establish a presence in the global car-sharing markets.
Hyundai and its affiliate Kia Motors Corp. jointly invested 339 billion won ($300 million) in India's biggest ride-hailing firm, Ola, in March. They invested $275 million in Southeast Asia's leading ride-hailing app, Grab, last year.