In august of 2017, Toyota Motor Corporation and Grab Holdings Inc. forged a partnership aimed at developing mobility solutions that would aid riders and drivers across Grab’s extensive network in Southeast Asia. Now, that partnership si strengthened even further as Toyota has just poured fresh capital into the agreement.
Toyota has just put in $1 billion to help develop its tie up with the ride-hailing service. Aside from this, a Toyota executive will sit as a Board Member at Grab while a team member will stand as Executive Officer. Moreover, Toyota is authorized to make personnel changes at Grab as it sees fit.
The new investment is meant to further boost Mobility as a Service and other aspects of Grab’s online and offline technology services. Grab deals in mobility, food, financial, and package delivery services. Toyota’s investments have allowed its vehicles to collect driving data and store them in Toyota’s data infrastructure. This can later be used to provide a better riding and driving experience for both riders and drivers, respectively.
The revitalized partnership simply strengthens the existing collaboration, allowing Grab to further spread its wings and provide an even bettter experience.
