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Toyota to invest $1 billion in Southeast Asian 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 the regional business of Uber Technologies Inc. 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 is also the latest collaboration between a global vehicle maker and a technology firm as ride-hailing companies dominate the fast-growing field of mobility services, raising the risk ...

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First Published: Wed, June 13 2018. 10:11 IST
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