Tag: Toyota

Toyota Pumps $1 Billion Investment Into Grab

Toyota Pumps $1 Billion Investment Into Grab

Southeast-Asian ride-hailing firm Grab announced this week that it will be getting $1 million in fresh investment from Japan’s Toyota Motors to expand their partnership and explore new strategies for the region. It was also revealed that a Toyota executive will be appointed to Grab’s board of directors and a team member will be elevated to an executive position in the Singapore-based company. Grab adds that the investment will allow Toyota to integrate services such as user-based insurance and predictive maintenance with them which may serve as an incentive for drivers to drive more safely to to lower their insurance […]

Car Sharing May Soon Use Blockchain Tech

Car Sharing May Soon Use Blockchain Tech

Detroit, Michigan – Last Wednesday, accounting firm EY announced the it will be launching a blockchain based system named Tesseract which should help revolutionize record keeping in the vehicle sharing industry. Blockchain, the technology used by cryptocurrency, can also be used to track vehicle ownership and usage, compute insurance costs and other transactions. EY’s John Simlett says that they may use blockchain to manage shared use and ownership of large fleets, which users can access using their smartphones.     Similarly, Toyota has already announced in May that they will be working with MIT, BigchainDB, Oaken Innovations, and startup Commuterz to […]