13 Jun '18, 12pm

Toyota to invest RM4 bil in Grab, gets seat on board

Toyota to invest RM4 bil in Grab, gets seat on board

Toyota announced today that it has concluded an agreement with ride-sharing app company Grab to strengthen their existing partnership and expand collaboration in Southeast Asia to drive further advances in Mobility as a Service (MaaS). As part of this agreement, Toyota will invest US$1 billion (RM4 billion) in Grab. To accelerate decision-making, 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. Toyota is the lead investor in Grab’s ongoing financing round, launched following Grab’s takeover of Uber’s Southeast Asian assets . The US$1 billion sum is the largest-ever investment globally by an automaker in the ride-hailing sector. Besides the namesake app that we’re familiar with, Grab operates online-to-off...

Full article: https://paultan.org/2018/06/13/toyota-to-invest-rm4-bil-i...

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