Toyota Advances Mobility as a Service Strategy with Strategic Investment and Collaboration with Grab, the leading Ride-hailing Company in Southeast Asia
Toyota to invest $1 billion U.S. dollars in Grab and strengthen collaboration to accelerate development of new mobility technologies
Partnership will expand mobility options for consumers throughout Southeast Asia, leveraging Toyota’s Mobility Services PlatformToyota City, Japan, June 13, 2018―Toyota Motor Corporation (Toyota) announced today that it has concluded an agreement with Grab Holdings Inc. (Grab) to strengthen their existing partnership and expand the collaboration between Toyota and Grab in Southeast Asia to drive further advances in Mobility as a Service (MaaS) across the region. As part of this agreement, Toyota will invest $1 billion U.S. dollars (approximately 110 billion yen) in Grab. Furthermore, to accelerate decision-making, one Toyota executive will be appointed to Grab’s board of directors and a dedicated Toyota team member will be seconded to Grab to as an executive officer, with Toyota considering more personnel exchanges in the future.
https://newsroom.toyota.co.jp/en/corporate/22940912.html
Toyota to acquire $1 billion Grab stake in ride-hailing push | The Japan Times
https://www.japantimes.co.jp/?post_type=news&p=1429005
Toyota invests $1 billion in Grab ride-hailing company – Autoblog
https://www.autoblog.com/2018/06/13/toyota-1b-investment-grab-ride-share/
Toyota invests another $1 billion into Asian ride-sharing giant Grab – Business Insider