Hyundai, Kia sell Rs 690 Cr Ola Electric stake with majority buyers

Hyundai and Kia have collectively sold their stake in Ola Electric, valued at approximately Rs 690 crore (around $83 million). The majority of the buyers for these shares remain undisclosed. This divestment by the South Korean automakers, who had invested in Ola Electric in 2019, suggests a strategic re-evaluation of their investment portfolio. While the reasons for the sale are not fully public, it marks a significant shift in Ola Electric's shareholding structure. The transaction highlights the dynamic nature of investments in the electric vehicle sector and may free up capital for Hyundai and Kia's own EV strategies.