Hyundai and Grab have inked an agreement which will see the Korean automaker, through its Hyundai and Kia brands, investing an additional US$250 million (RM1.04 billion) into Grab to create a Southeast Asia-wide electric vehicle (EV) network that will pilot EV programmes across the region.
Back in January, the two parties announced a strategic partnership where Hyundai would place a direct investment in the Singapore-based on-demand transportation and mobile payments platform and in which the Ioniq Electric was set to feature as one of the primary vehicles.
The companies will kick off its series of EV pilot projects, which will focus on utilising EVs to maximize cost efficiencies for Grab’s driver-partners in the region, starting with Singapore in 2019. The partnership will also work with regional stakeholders, including governments and infrastructure players, to improve EV infrastructure in the region, such as the building of a network of quick-charge stations.
The project will conduct research into how EVs can be most efficiently deployed in the region’s hot and humid climate conditions and also look into the development of customised maintenance packages for Grab EV drivers.
The additional investment from Hyundai brings Grab’s current fundraising round to US$2.7 billion (RM11.27 billion) raised, and the Singapore-based company says it’s on track to raise over US$3 billion (RM12.5 billion) by the end of this year. Investors in Grab’s current financing round include Microsoft and Toyota. In August, Grab announced a partnership with Singapore’s energy utilities provider, SP Group, to use SP Group’s public EV charging network for its EVs.
GALLERY: Hyundai Ioniq Electric
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Grab is also introducing new products that caters for women-only driver and customer services called Grab Her , and school transport services for students Grab’Em
Taxi bandits dare to protest in front of South Korea embassy?
Protest at Hyundai Kia head office?
Meanwhile Uber & Grab is illegal in Korea and not allowed to operate. Orz!
Founded by smart Malaysia. Powered by japan Toyota, US microsoft, korea Hyundai. And based in singapore. Go Grab Tanchong myteksi!
but a malaysian company based in next door, singapore, it isn’t a proud thing. It is something we need to ask, why is that?
becuz taxi driver protes ?
Meanwhile, nobody wants to invest in our local teksi drivers.
Even Bank Rakyat won’t touch botak’s Blue Taxi with a ten foot pole.
Well done, good job, finally we got high grade of Grab Car.
Actually, there have been a lot in grab premium