Hyundai to Provide 5,000 cars to Careem

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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.

Related: Toyota to Invest $1 Billion in Grab Ride Hailing

Earlier in March, Careem was acquired by global ride-hailing service provider Uber for $3.1 billion, making it the largest-ever technology purchase in the region.

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.

 

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