South Korean automaker Hyundai has announced to provide 5,000 vehicles to Middle Eastern ride-hailing firm Careem by December this year.
The move is part of Hyundai’s ambition to transform itself into a smart mobility solutions provider. The 5,000 units of vehicles to be delivered in the middle-east include Sonata & Grandeur sedans, and the Tucson & Santa Fe SUVs.
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 jointly invested $300 million in India’s biggest ride-hailing firm, Ola, in March. Last year, the duo also invested $275 million in Southeast Asia’s leading ride-hailing app, Grab.