RoK’s leading auto makers invest in Grab in Southeast Asia

The Republic of Korea’s two leading auto manufacturers, Hyundai Motor Co. and Kia Motors Corp, have announced a target of selling a combined 7.6 million cars in 2019 and an additional 250 million USD in Grab, a ride-sharing company in Southeast Asia.

Thursday, January 03, 2019 15:59

RoK’s leading auto makers invest in Grab in Southeast Asia ảnh 1

Illustrative image (Source: internet)

Seoul (VNA) – The Republic of Korea’s two leading auto manufacturers,Hyundai Motor Co. and Kia Motors Corp, have announced a target of selling acombined 7.6 million cars in 2019 and an additional 250 million USD in Grab, a ride-sharingcompany in Southeast Asia.

Accordingly, Hyundai Motor aims to sell 4.67 million units this year while Kiawill sell 2.92 million cars. The two car makers’ total estimated car sales in2019 will be higher than the 7.3-7.4 million units sold in 2018.

Hyundai will pour 175 million USD in the ride-hailing service in Southeast Asiawhile Kia, 75 million USD. The auto manufacturers plan to cooperate with Grabin electric vehicle (EV) projects as well as accelerate the constructionof a network of quick-charge stations for cars.

Under the partnership, the three firms will launch a series of EV pilotprojects in Southeast Asia, starting with Singapore in 2019 and thenexpanding to other countries, including Vietnam.-VNA

VNA

#Republic of Korea #auto manufacturer #Grab #Hyundai Motor #Kia Motors #ride-hailing #cars #car makers #Vietnamplus #Vietnam News #Vietnam News Agency

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