Strategic Collaboration in the New Mobility Service Field
Toyota Tsusho has invested in Grab as part of its efforts to accelerate collaboration in a new mobility service sector. With advancements in digital technologies and increased use of smartphones and other mobile devices over recent years, many countries and territories around the world have seen a rapid increase in the adoption of ride-sharing services that use privately owned cars, such as car-sharing services and taxi dispatch services. Founded in 2012, Grab is Southeast Asia’s leading on-demand transportation and mobile payment service provider. Toyota Tsusho conducts a range of automobile-related businesses within Southeast Asia, including automobile sales, service, and telematics. Through this new investment, Grab and Toyota Tsusho hope to expand strategic alliances in a new mobility service sector.
- Investment in Grab Inc., Southeast Asia’s largest ride-hailing service company (NEXT Technology Fund) (Announced on August 30, 2017)