13 Jun '18, 8am

#Toyota to invest $1B in #Grab, strengthen collaboration for development of new mobility technologies

#Toyota to invest $1B in #Grab, strengthen collaboration for development of new mobility technologies

Toyota Motor Corporation has concluded an agreement with Grab Holdings Inc. (Grab) to strengthen their existing partnership and expand the collaboration between Toyota and Grab in Southeast Asia to drive further advances in Mobility as a Service (MaaS) across the region. As part of this agreement, Toyota will invest US$1 billion in Grab. One Toyota executive will be appointed to Grab’s board of directors and a dedicated Toyota team member will be seconded to Grab to as an executive officer, with Toyota considering more personnel exchanges in the future. Grab operates online-to-offline mobile platforms in transportation, food and package delivery, mobile payments and financial services in 217 cities in eight Southeast Asian countries. In March this year, it acquired Uber Technologies Inc.’s Southeast Asian assets, and is now the partner of choice for ride-hailing in the reg...

Full article: http://www.greencarcongress.com/2018/06/20180613-grab.html

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