Toyota Plans Billion-Dollar Investment in Ride-Hailing Startup Grab

13 Juin, 2018, 12:32 | Auteur: Auguste Feret
  • Toyota to invest billion in Grab

The value of six-year-old Grab will be just over $10 billion after the investment, said a person familiar with the matter.

The deal comes as the auto industry faces a spike in the need for technological prowess with the advent of features such as autonomous driving, while app makers offer passengers the option to forgo vehicle purchases by connecting them with drivers. Toyota has also backed San Francisco-based Uber Technologies Inc. and made investments in Japan Taxi, an Uber rival run by the chairman of Tokyo's biggest taxi operator.

Japan's SoftBank Group Corp last month announced it would invest $2.25 billion in the Cruise autonomous vehicle unit of General Motors Co, while Fiat Chrysler Automobiles NV and Jaguar Land Rover Automotive PLC have agreed to supply vehicles for Alphabet Inc's self-driving auto subsidiary Waymo.

As part of this agreement, Toyota will invest US$1 billion (RM4 billion) in Grab. Grab said it plans to work with its new investor "to create a more efficient transport network that will ease traffic congestion in Southeast Asia's megacities" and help its drivers increase their income.

The deal extends Toyota's cooperation with Grab, the largest ride-hailing service in Southeast Asia, the carmaker said in a statement Wednesday, without disclosing what percentage of Grab it will own.

Russian Federation calls for implementation of JCPOA on Iran: Putin
Trump arrived late for Saturday's meeting during the Group of Seven summit of leading industrialized nations being held in Quebec. Merkel and Trump also had a brief conversation at the summit but no bilateral meeting.

L’Union européenne est derrière Justin Trudeau
Cette surtaxe pourrait coûter des milliards de dollars aux producteurs canadiens et allemands si elle venait à se matérialiser. La première ministre britannique, Theresa May, a également fait des pieds et des mains, lundi, afin de remercier M.

Antoine Griezmann's inner circle wants him to stay at Atletico Madrid
As Antoine Griezmann considers his future, the FC crew discuss the pros and cons of staying at Atletico and moving to Barcelona . He made his France debut in 2016 and has scored three goals in 12 worldwide games.

A man walks past a Grab office in Singapore March 26, 2018. The Malaysian-born but now Singapore-based company has its namesake app in over 100 million mobile devices, giving passengers access to over 6.6 million drivers and agents.

The firm also offers online to offline services, such as food delivery and digital payments, which it aims to expand deeper into the region using funds from its latest financing round. "We want to be the one-stop mobility platform for users".

One 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. In particular, that will involve close collaboration with the Toyota Mobility Service Platform (MSPF), which is working on areas such as user-based insurance, new types of financial packages and predictive vehicle maintenance. Grab has already forced Uber Technologies Inc.to retreat from Southeast Asia. In 2016, General Motors invested $500 million in Lyft, Volkswagen pumped $300 million into Gett, and Honda invested an undisclosed amount in Grab.

Grab, which is headquartered in Singapore, is a leading player in the ride-share industry in Asia, and earlier this year agreed to acquire United States giant Uber's regional operations. Go-jek is expected to expand its operations outside Indonesia this year in countries such as Singapore, the Philippines, Thailand and Vietnam.

Conseillé:



Populaire

Trump distorted history on North Korea
Green said the Japanese - who are concerned about the US reducing its presence in East Asia - "are going to put on a fearless face".

Senators Move To Reverse Trump's Deal Lifting Sanctions On China's ZTE
Senate Majority Leader Mitch McConnell (R., Ky.) said that passing the defense measure is at the top of his to-do list this week. The ban was imposed after the company made false statements about disciplining some executives responsible for the violations.

Kim Jong Un accepte de se rendre aux États-Unis
D'ailleurs, le document signé par les présidents Trump et Kim engage la dénucléarisation complète de la péninsule coréenne . Il a ajouté que le monde pourrait observer " un changement majeur " avant de quitter le sommet organisé à Singapour .

South Korea Praises Trump's Summit with Kim Jong
Annual military drills between the United States and South Korea have been a major source of tension on the Korean Peninsula . The drills help keep USA forces at a state of readiness in one of the world's most tense flashpoints.

Tesla va supprimer 9% de ses effectifs — Automobile
En coupant ainsi dans la masse salariale, le célèbre entrepreneur espère retrouver la confiance des investisseurs, alors que Tesla brûle beaucoup d'argent depuis sa création .

Robert de Niro se lâche aux Tony Awards — "F*** Trump !"
Il accueillait le chanteur Bruce Springsteen sur scène pour lui remettre un Tony Award spécial pour son spectacle. I watched him last night and truly believe he may be "punch-drunk".

Topekans help victims of the Fuego Volcano
"But like other natural hazards, the exact size, timing and flow direction of a volcanic eruption is unknown". Authorities in Guatemalan have already launched an investigation into the official response to the crises.

Morocco star Nabil Dirar doubtful for World Cup tournament in Russian Federation
Here is an XI of the stars heading to Russian Federation this summer who received the highest average ratings across the season. In 2016 Williams released a song called "Party Like a Russian" drawing criitcism for its portrayal of Russian culture.

What Kyrie Irving had to say about the most recent Celtics season
Now on the positive side, it seems like Irving is focused on winning a championship. I'm pretty sure management and I will have a talk, but that talk won't happen now".

Iran spokesman warns Kim about nuclear agreement with Trump
Interested in Iran? Add Iran as an interest to stay up to date on the latest Iran news, video, and analysis from ABC News.