SINGAPORE: Toyota Motor Corp has agreed to invest US$1bil (RM3.99bil) in South-East 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 startup said in a statement on June 13.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!