Mexican Media Brands
Antitrust Panel Questions Hyundai-Ola Deal
India’s antitrust commission has challenged Hyundai Group’s 6-month-old plan to invest $300 million in Ola Cabs, the country’s largest ride-hailing service.
Share
India’s antitrust commission has challenged Hyundai Group’s 6-month-old plan to invest $300 million in Ola Cabs, the country’s largest ride-hailing service.
The panel has rejected an operating license application from Ola’s parent, Bengaluru-based ANI Technologies Pvt. Ltd. The underlying concern is about the competitive impact of a carmaker investing in a ride-hailing company, a source tells the financial news website Moneycontrol.com.
The website says ANI refiled a more detailed application last month, but the outcome isn’t clear. Hyundai reportedly hopes to help Ola drivers use its Kona small electric cars.
Ola was launched in 2010 and has raised $3.3 billion in funding to date. The company, whose other investors include Softbank and Tencent, has a market value of $5.7 billion.
Three years ago Mahindra & Mahindra Ltd. partnered with Ola in a non-investment deal to offer Ola drivers discounts on Mahindra Verito cars.
RELATED CONTENT
-
Cobots: 14 Things You Need to Know
What jobs do cobots do well? How is a cobot programmed? What’s the ROI? We asked these questions and more to four of the leading suppliers of cobots.
-
Jeeps Modified for Moab
On Easter morning in Moab, Utah, when the population of that exceedingly-hard-to-get-to town in one of the most beautiful settings on Earth has more than doubled, some people won’t be hunting for Easter eggs, but will be trying to get a good look at one of the vehicles six that Jeep has prepared for real-life, fast-feedback from the assembled at the annual Easter Jeep Safari.
-
TRW Multi-Axis Acceleration Sensors Developed
Admittedly, this appears to be nothing more than a plastic molded part with an inserted bolt-shaped metal component.
