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Kia And Hyundai Pour $250 Million To Beta Test E-Mobility In SE Asia

Grab Holdings Inc., the market-leading O2O mobile platform in Southeast Asia, has recently inked an agreement with Kia Motors Corporation and Hyundai Motor Company to invest another $250 Million in Grab to test EVs in Southeast Asia.

As part of the alliance in the field of electric vehicles, Grab and subsidiaries of the Hyundai Motor Group will work with stakeholders in the electric vehicle industry on measures to perk up the execution and awareness of electric cars in Southeast East Asia.

“South Asia, home to one of the most dynamic consumer centers in the world, is a massive developing market for electric cars,” said Dr. Youngcho Chi, chief innovation officer at Hyundai Motor Group and Director of Strategy and Technology Division. “With its unparalleled presence in the region and growing numbers of dealers and customers, Grab is a precious partner that will facilitate in accelerating the adoption of electric vehicles in Southeast Asia.”

To start with, all the three entities will launch a series of pilot projects on electric cars in Southeast Asia, starting with Singapore in 2019. The pilot will emphasize on the use of electric vehicles in order to optimize the cost of driving pick up. The electric vehicle alliance will also work with regional stakeholders, comprising governments and infrastructure stakeholders, to improve the infrastructure of electric vehicles in the region, for the task such as setting up a network of fast-charging stations.

The electric vehicle partnership will also examine the development of customized maintenance programs for electric vehicle drivers and conduct research on how to set out electric vehicles in Southeast Asia more efficiently in hot and humid climatic conditions.

Hyundai initially invested in Grab in January and later both the companies initiated exploring partnership in the electric vehicle sector.