Hyundai motor company has slashed its entire 2.47% stake in Ola Electric Mobility for Rs 552 crore via open market transaction. The Hyundai motor company has sold more than 10.88 crore shares of Ola Electric Mobility at an average price of Rs 50.70 per share.
Additionally, Kia corporation which is a part of global Hyundai-Kia Automotive Group has sold over 2.71 crore shares, representing 0.62% stake in Ola Electric Mobility for Rs 137.35 crore.
Ola Electric Mobility is an electric vehicle company that primarily manufactures electric vehicles and certain core components for electric vehicles such as battery packs, motors, and vehicle frames at the Ola Futurefactory.
