Hyundai to supply 5,000 cars to Middle East ride-hailing firm
Hyundai Motor said on May 16 it will supply 5,000 vehicles to Middle Eastern ride-hailing firm Careem Networks 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 for $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 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.
By Ram Garikipati and newswires (firstname.lastname@example.org)