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Toyota Motor to invest $1 billion in ride-hailing firm Grab

Reuters  |  SINGAPORE 

SINGAPORE (Reuters) - Toyota Motor Corp has agreed to invest $1 billion in Southeast Asian ride-hailing firm Grab as a lead investor in the company's ongoing financing round, which was launched after it bought Uber Technologies' regional business. The investment by Toyota is the largest-ever by an automaker in the global ride-hailing sector, the six-year old start-up said in a statement on Wednesday. It will allow Grab to further expand its range of online to offline services, such as food delivery and digital payments, deeper into the region.A Toyota executive will be appointed to Grab's ...

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First Published: Wed, June 13 2018. 08:27 IST
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