
Toyota Pumps $1 Billion Investment Into Grab
0 comments
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 premiums.
Source: CNBC