Hyundai and Kia invest 250 million dollars to boost the use of electric vehicles



Korean automotive Hyundai and Kia announced an investment of 250 million dollars in the company Grab Holdings, to boost the use of electric vehicles throughout the South East Asia.

The automobiles and Grab, the main platform for transport services in southeast Asia, will work on pilot programs Electrical Vehicles (EV) to collaborate in measures that will improve the adoption of this type of car, he said Hyundai in communication.

"As one of the world's largest consumer growth regions, Southeast Asia is a huge emerging market for electric vehicles," said the director of Innovation and director of Strategy and Technology of Hyundai Motor Group, Youngcho Chi.

"With its unprecedented presence throughout the region, and an increasing base of clients and suppliers, Grab He is an invaluable partner that will help accelerate the adoption of electric vehicles in this region, "he abounded.

Thus, companies will launch a series of pilot projects in Southeast Asia, starting in Singapore, in 2019, which will focus on the use of electric vehicles to maximize cost efficiency for driver partners Grab.

The alliance will also work with the regional stakeholders, including governments, to improve the infrastructure of these vehicles in the region, as well as for the construction of a network of fast cargo stations.

In the same way, the development of customized maintenance packages for the drivers of Grab EV, and an investigation will be carried out on how they can be implemented more efficiently in the region, in warm and wet weather conditions.

This additional investment is based on the existing strategic alliance of Grab with Hyundai, and raises the current fundraising of Grab a 2,700 million dollars.

Grab is on the way to collect more of 3,000 million dollars for the end of this year, with investors that include a Microsoft, The Toyota and global financial institutions such as OppenheimerFunds, Goldman Sachs Investment Partners and Citi Ventures.

Grab It is one of the most widely used transport platforms in Southeast Asia, which has been downloaded in more than 125 million devices, giving users access to more than eight million drivers, merchants and agents.

This mobility firm has the largest land transport fleet in the region and has completed more than 2,500 million trips since its foundation in 2012.

Grab offers the widest range of transport services at the request of the region, as well as food delivery services and packages in 235 cities in eight countries.


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