South Korean car manufacturer Hyundai has agreed a strategic investment and partnership with India ride-hailing firm Revv. The deal will see the two companies jointly invest in India’s ride-sharing market for its upcoming launch of an on-demand car-pooling service. Hyundai said the partnership offers a way for the company to expand its presence in India, and appeal to the country's car-sharing millennial population. India's mobility market is set to grow from $1.5bn in 2018 to $2bn by 2020, while car-sharing vehicles are set to number 150,000 by 2022.
South Korean car manufacturer Hyundai has agreed a strategic investment and partnership with India ride-hailing firm Revv. The companies plan to develop a car-sharing service and new mobility service platforms. Hyundai said the partnership offers a way for the company to expand its presence in India, and appeal to the country's car-sharing millennial population. India's mobility market is set to grow from $1.5bn in 2018 to $2bn by 2020, while car-sharing vehicles are set to number 150,000 by 2022.