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

Discussion in 'Petrol Heads Forum' started by Calliers, Jun 14, 2018.

  1. Calliers

    Calliers HH's MC Staff Member

    Joined:
    Oct 12, 2004
    Messages:
    36,600
    Likes Received:
    2,357
    Trophy Points:
    139
    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 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 car purchases by connecting them with drivers.
    ____________________
    Source: venturebeat
     

Share This Page

visited