Toyota investing $1 billion in ride-hailing company Grab
TOKYO – Japan’s best automaker Toyota Motor Corp. is making an investment $1 billion in Snatch, the main ride-hailing corporate in Southeast Asia.
Toyota mentioned Wednesday that it reached a take care of Snatch Holdings to support a partnership they have already got to develop in mobility services and products in that area.
A Toyota government can be appointed to Snatch’s board and any other Toyota workforce is being tapped to be an government officer at Snatch, the corporate mentioned.
Snatch, which is analogous in its services and products to Uber within the U.S., is in 8 countries within the area, together with Malaysia, Singapore and Indonesia.
Toyota was once first of all wary about ride-sharing and autonomous-driving generation.
In recent times the maker of the Camry sedan, Prius hybrid and Lexus luxurious fashions has been aggressively taking part in catch-up, signing on companions world wide.