Showing posts with label HYUNDAI CARS. Show all posts
Showing posts with label HYUNDAI CARS. Show all posts

Friday, March 8, 2019

Hitching a ride: Hyundai may invest $250-300 million for 4% stake in Ola


The deal, if it goes through, would be part of Ola's ongoing fund-raising round where it is looking to raise $400-500 million at a $6-billion valuation.


In what could be one of the first major investments by an auto company in a ride-hailing firm, Korean auto giant Hyundai is reportedly in talks with Ola to pick up a four per cent stake in the firm for $250-300 million.

The deal, if it goes through, would be part of Ola's ongoing fund-raising round where the Bengaluru-based company is looking to raise $400-500 million at a $6-billion valuation. The deal would also help Hyundai increase its fleet of vehicles operating in the country.


The auto firm had in November invested $250 million in Singaporean ride-hailing company Grab. It appears that Hyundai along with other auto firms such as Mahindra and Mahindra, Ford and Toyota is betting on ride-hailing firms such as Ola, Uber and Lyft to increase sales.

According to data released by SIAM on Friday, domestic passenger vehicle sales declined 1.11 per cent to 272,284 units in February from 275,346 units in the same month the previous year.

Ola's previous tie-ups
In January, Flipkart co-founder Sachin Bansal also invested Rs 150 crore in Ola as part of the first tranche of the total Rs 650 crore-investment.

The ongoing Series J funding round is primarily subscribed by London-based investor Steadview Capital. Prior to Bansal's investment, Steadview Capital had invested Rs 520 crore in Ola.



Tuesday, October 9, 2018

All New Santro: Everything we know so far about Hyundai's next-gen car 


The company will open online pre-bookings for the all-new Santro from October 10-22 with Rs 11,100 as booking amount for the first 50,000 customers.


Korean auto major Hyundai on Tuesday showcased a next-gen Santro, which was the company's first product in India way back in 1998. The 'tall boy' was Hyundai's most popular product name in India.( Business Standard )

Here are the key takeaways:

- The name of the car is All New Santro
- The all-new Santro, which was developed under the code name AH2, will be powered by a 4-cylinder 1.1 litre petrol engine
- It will also be available with automated manual transmission (AMT) and factory-fitted CNG fuel options
- HMIL Managing Director and CEO Y K Koo said the company decided to name the "new family car" as Santro following an overwhelming response from customers in an online poll.
- The company will open online pre-bookings for the all-new Santro from October 10-22 with Rs 11,100 as booking amount for the first 50,000 customers
- 66.6 per cent of five million voted for the name
- Six key pillars for New Santro include style, tall boy design, comfortable and premium cabin, new age technology, customer-centric safety
- Company claims mileage of 20.3 kmpl (MT/AMT)

The original Hyundai Santro was launched on September 23, 1998. Two years later, Hyundai set up its base in India with an investment of $614 million, which was the biggest investment to have been made by any Multinational company in the Indian automotive sector till then.

The company had invested in Sriperumbudur near Chennai, Hyundai's largest plant outside of Korea then.

Santro, being Hyundai's first product in India, was important for the automaker as its future in the country depended on it. Hyundai is now the second largest carmaker in India in the passenger car segment and is one of the leading exporters of cars from India.
The company roped in Shah Rukh Khan, who had just started on his journey to stardom with films like Dilwale Dulhaniya and Kuch Kuch Hota Hai as brand ambassador for the car, which was nicknamed 'tall boy' then.

Meanwhile, though the Santro faced stiff competition in the marketplace from the likes of the Maruti Zen and Tata Indica, its refinement, peppy engine, unusual tall boy design, well-finished and put together interiors and the friendly and helpful sales and service staff, helped the Hyundai Santro script its success story. Significantly, Hyundai Santro was almost simultaneously launched worldwide and Indian customers got the same product as the rest of the world. The then management said it showed that Hyundai cared for Indian consumers and treated them on par with the world and the car went on to become one of India's most successful hatchbacks. The car was discontinued in December 2014... Read More