Hyundai to supply 5,000 cars to Middle East ride-hailing firm

SEOUL, May 16 (Yonhap) -- Hyundai Motor Co., South Korea's largest carmaker by sales, said Thursday it will supply 5,000 vehicles to Middle Eastern ride-hailing firm Careem Networks FZ by December.

The move is part of Hyundai's drive to transform itself into a smart mobility solutions provider in the long term.

Hyundai plans to deliver 5,000 units of the Sonata and Grandeur sedans, and the Tucson and Santa Fe sport-utility vehicles, to Careem Networks by the end of this year.

Careem Networks, which was acquired by Uber Technologies Inc. for US$3.1 billion in March, provides car-hailing services in 120 cities of 15 countries in the Middle East and North Africa, according to Hyundai Motor.

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 Motors Corp. jointly invested 339 billion won ($300 million) in India's biggest ride-hailing firm, Ola, in March. They invested $275 million in Southeast Asia's leading ride-hailing app, Grab, last year.

kyongae.choi@yna.co.kr
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