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Toyota pours a billion dollars into Grab

Wednesday - 13/06/2018 20:23
Grab said it was the biggest investment of a car manufacturer in the car market.
Grab today announced a $ 1 billion investment from Japanese automaker - Toyota Motor, expanding its existing relationship and exploring new strategies in the region. A Toyota executive will also be added to the Grab Board. Another member of the automaker will also join the Grab team.

With the largest investment of a car manufacturer in the car market, Grab believes there will be an opportunity to expand the service portfolio. Currently, in addition to car reservations, Grab also provides food delivery and electronic payment services in Southeast Asia.

With Toyota, this will also help them integrate deeper into their services, such as insurance or maintenance. It will encourage drivers to drive safer to get lower premiums.

"In the near future, Grab and we will develop more attractive and secure services for our customers in Southeast Asia," said Toyota's deputy general manager, Shigeki Tomoyama, in a statement today. Previously, Toyota's investment company also poured money into Grab, a mobilization round that included both SoftBank (Japan) and Chinese car sharing application - Didi Chuxing.
 Tags: vietnam, toyota, grab

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