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Ola and Ola electric get investment from Kia and Hyundai

Shortpedia

Content Team

The Competition Commission of India (CCI) has given a green signal to Hyundai and Kia’s investment in Ola and Ola Electric. Both the firms have collectively received Rs 2,244 crore from the South Korean automakers. Hyundai Motor has funded Rs 84.5 crore and Kia Motors has invested Rs 21.3 crore. The CCI is not so happy with this as the board feels that this might create a monopolistic situation in the competitive landscape.