Toyota announced Wednesday it will invest $1 billion in ride-hailing giant Grab, valuing the six-year-old company headquartered in Singapore at approximately $10 billion. It represents the largest investment by an automaker in ride-hailing and is the fourth for Toyota in the sector. The automaker is also a partner of Grab rivals Uber and Didi Chuxing, as well as taxi-based service JapanTaxi. Toyota and Grab plan to launch new mobility services utilizing Toyota's connectivity technology, one of which will be telematics-based insurance offering that could end up reducing the cost of insurance...
Uber retreats from Southeast Asia by selling operations to rival Grab
Uber is paring back more of its loss-making operations with the announcement on Monday that it is retreating from the Southeast Asian market. Uber will sell its operations in the market to Singapore-based Grab, a rival ride-hailing company that's been the biggest challenger to Uber in Southeast...Viknesh Vijayenthiran