Thursday, 23 May 2019

Toyota decided to invest their money to Grab, a Singapore online transportation company


Image for illustrationImage for illustration -  Finally, Grab gets fresh funds from Toyota, an auto giant in the world. The online transportation company Singapore-based announced that Toyota will make investment about USD 1 billion or about IDR 13.9 trillion to their company.

As quoted from CNBC on Wednesday, June 13 2018, the two companies will explore the variety of many strategies.

And Toyota officials will also enter the board of directors of Grab and some are given the position of Executive Officer.

The biggest investment that received by Grab that disbursed by automotive companies to the ride-sharing service will be used by Grab to develop it's services such as food delivery as well as electronic payments.

"As a global leader in the automotive industry, Toyota's investment in Grab was based on their belief in our leadership to encouraging new mobile solutions and developing mobile services such as GrabFood and GrabPay," said Ming Maa, president of Grab.

And also, the service from Toyota will be integrated more deeply into Grab program. 

"We hope, in our relationship with Grab, we will develop a more attractive and safe service for our consumers in Southeast Asia," said Shigeki Tomoyama, the Executive Vice President of Toyota.





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