Transportation

Toyota Invests $1 Billion In Ride-Hailing Service Grab

10 days ago   |   By Ubergizmo

If you have ever been to Southeast Asia over the past couple of years then you would have heard about Grab. It's the leading ride-hailing service in the region, one that gave Uber a tough time and eventually caused it to exit the market. Grab has now received a vote of confidence from Toyota in the form of a $1 billion capital injection as part of its latest funding round.
Grab is raising a new round of funding which is led by Toyota's contribution of $1 billion. The deal values Grab at $10 billion, according to reports. Toyota is going to get a board seat in return as well as the...
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Toyota pumps $1 billion into Grab as auto industry bets big on ride-hailing startups

Toyota pumps $1 billion into Grab as auto industry bets big on ride-hailing startups

10 days ago   |   By VentureBeat

SINGAPORE (By Aradhana Aravindan and Naomi Tajitsu, Reuters) - Toyota Motor Corp has agreed to buy a $1 billion stake in Southeast Asia's Grab in the biggest investment by a carmaker into a ride-hailing firm, at a time when traditional automakers are racing to team up with disruptive tech companies. The value of six-year-old Grab will be just...
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