Toyota puts $1bn into ride-hailing service Grab

Toyota Motor Corporation is investing $1 billion in Grab Holdings, the Singapore-based ride-hailing platform provider. Grab, which has merged with Uber in south-east Asia, offers services which use a variety of transport modes, from bicycles and shuttle buses to cars and taxis. The companies say Toyota’s investment means they will also “strengthen and expand their existing collaboration in the area of connected cars, to drive the adoption of new mobility solutions across south-east Asia”.
June 15, 2018 Read time: 2 mins
1686 Toyota Motor Corporation is investing $1 billion in Grab Holdings, the Singapore-based ride-hailing platform provider.


Grab, which has merged with Uber in south-east Asia, offers services which use a variety of transport modes, from bicycles and shuttle buses to cars and taxis.

The companies say Toyota’s investment means they will also “strengthen and expand their existing collaboration in the area of connected cars, to drive the adoption of new mobility solutions across south-east Asia”.

Connected car services include telematics-based insurance, which “may reduce the cost of insurance premiums for safer Grab drivers”.

Shigeki Tomoyama, president of Toyota’s in-house Connected Car Company, said: “Going forward, together with Grab, we will develop services that are more attractive, safe and secure for our customers in south-east Asia.”

A Toyota executive will be appointed to Grab’s board of directors and “a dedicated Toyota team member will be seconded to Grab as an executive officer”, the companies added.

Grab’s current services include car and taxi services JustGrab and GrabShare.

It has also introduced GrabAssist, designed for people with limited mobility, with vehicles accommodating foldable wheelchairs, walkers and collapsible scooters.

Grab says its app has been downloaded into over 100 million mobile devices.

UTC

Related Content

  • February 17, 2020
    Joby raises $590m to develop eVTOL aircraft 
    Joby Aviation has raised $590 million in a funding round led by Toyota Motor to further develop urban air mobility. 
    Read More
  • December 19, 2018
    Enterprise CarShare brings service to University of Delaware
    Enterprise CarShare has launched a short-term car rental service aimed at University of Delaware (UD) students and staff. Delaware is the latest campus to sign up for the service, which targets people who typically need a vehicle for just a few hours. Richard Rind, UD’s director of auxiliary services, says: “Many UD students and community members don’t have access to a car to take them where they need to go.” The service, part of Enterprise Rent-A-Car, will initially cost UD members $5 per hour which in
    Read More
  • June 17, 2019
    Careem expands Iraq ride-hailing service
    Careem is expanding its ride-hailing service to the Iraqi city of Basra, according to a report by Albawaba. The report says Careem’s app will provide a more reliable service for riders who currently have to deal with unmetered taxi prices. Mudassir Sheikha, CEO and co-founder of Careem, is quoted as saying: “Our technology is helping create employment opportunities and providing essential mobility for millions of people in Iraq.” Mohamed Al-Hakim, general manager of Careem Iraq says: “Within the ne
    Read More
  • August 7, 2019
    Moovit: Gut feelings no match for data
    Cities that bring in mobility services without data might be missing out on areas where demand is highest. Ben Spencer talks to Moovit’s Alon Shantzer about how the company is helping customers to pinpoint the right locations Launching mobility services without taking into account public transportation data can lead to chaos in cities. That’s the view of Alon Shantzer, vice president international sales at Moovit, the Mobility as a Service (MaaS) provider and transit app. “The data we have can define
    Read More

Highlighted Content