Toyota announced today that it has concluded an agreement with ride-sharing app company Grab to strengthen their existing partnership and expand collaboration in Southeast Asia to drive further advances in Mobility as a Service (MaaS).
As part of this agreement, Toyota will invest US$1 billion (RM4 billion) in Grab. To accelerate decision-making, one Toyota executive will be appointed to Grab’s board of directors and a dedicated Toyota team member will be seconded to Grab to as an executive officer, with Toyota considering more personnel exchanges in the future.
Toyota is the lead investor in Grab’s ongoing financing round, launched following Grab’s takeover of Uber’s Southeast Asian assets. The US$1 billion sum is the largest-ever investment globally by an automaker in the ride-hailing sector.
Besides the namesake app that we’re familiar with, Grab operates online-to-offline (O2O) mobile platforms in transportation, food and package delivery, mobile payments and financial services in 217 cities across eight ASEAN countries. In March this year, it acquired Uber’s Southeast Asian assets to be the dominant ride-hailing player in the region.
Since August 2017, Toyota and Grab have been developing connected services for the latter, utilising driving data collected by Toyota’s TransLog data-transmission driving recorder. The recorder, developed by Toyota for corporate fleets, has been installed in 100 Grab rental cars. The data collected is stored on Toyota’s proprietary mobility services platform (MSPF), which serves as a form of information infrastructure for connected vehicles.
Both companies have already begun collaboration in the field of connected vehicles by, for example, providing driving-data-based automotive insurance for Grab’s rental fleet in Singapore through local insurance companies.
Today’s announced expansion is aimed at achieving connectivity for Grab’s rental car fleet across Southeast Asia, and at rolling out various connected services throughout the region that use vehicle data stored on Toyota’s MSPF. In addition, collaborations in driving-data-based automotive insurance, financial services for Grab drivers and maintenance services are also contemplated under the new partnership.
Through this new agreement, Toyota and Grab plan to shift into full-scale implementation of services they have been developing to customers. The two companies will look for future collaborations aimed to achieve more-efficient ride-hailing businesses and for developing future mobility service solutions and MaaS vehicles.
Grab says that this investment allows it to further expand its range of O2O services, such as GrabFood and GrabPay, deeper into the region.
“We are thrilled to have Toyota onboard as a long-term, strategic partner of Grab. Toyota is an incredible company that has done so much for the world. This strong partnership will enable us to become the one-stop mobility platform in Southeast Asia. We look forward to executing the same vision of the future. A future that will provide for safer and more affordable rides, more liveable cities, and millions of new micro businesses in the digital revolution. We will continue to work with global leaders like Toyota in bringing this vision to pass,” said Anthony Tan, co-founder and CEO of Grab.
“I am delighted that we are strengthening our collaboration, which utilises Toyota’s connected technologies, with Grab. Going forward, together with Grab, we will develop services that are more attractive, safe and secure for our customers in Southeast Asia,” said Shigeki Tomoyama, Toyota executive VP and president of Toyota’s in-house Connected Company.
How big is Grab today? The Malaysian-born but now Singapore-based company has its namesake app in over 100 million mobile devices, giving passengers access to over 6.6 million drivers and agents. It also has Southeast Asia’s biggest land transportation fleet, delivering over six million rides per day.
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The prodigal son has now become more successful than his family company. Amazing.
Simply amazing. Gratzz Grab MY!!
Yesterday, Trump & Kim.
Today, Tun M & Abe.
Future, Toyota and Grab.
Loans will be denominated in Yen. Lolz! MY will be owed by Jepunis for the next 30 years, just like b4. Baru habis bayar itu loan, alredi take another for next 2 generations to pay off.
better than your old boss who stole billions from the country…oh wai
And his gang of pencuri also….oh wai!
U mean like ur new ‘old’ boss who stole billions from the country by making his cronies & sons billionaires… oh wai
And his gang of pencuri cronies also.. oh wai!
Ye lah tu. Macam le ko punya bos xpernah curi masa 22 tahun diatas. Towkay u pencuri terhebat tahap Pirate King.
Good to see that OEMs are also looking into Mobility Services.
However, will there be conflict of interest with Nissan? Anthony Tan is the grandson of Tan Chong founder and business in Malaysia/Singapore is primarily on Nissan or Subaru group.
Ya,we won’t let the unhealthy monopoly by,any transport company bcos customers deserve,a choice,for other,ehsiling,taxis such as fast growing MyCar taxi.So plse, no room for monopoly,and liscence control by Msi as n government,but not by Grab or Toyota!and we be influence to,our,ministers,/politiccians on,all,unhealthy,competition !
there will be an increase in grab cars without VSC. dangerous….
Credits to Datuk Seri Liow Tiong Lai.
https://paultan.org/2016/11/29/stability-control-mandatory-in-malaysia-by-june-2018/
Lets see if this new gov will honour this janji or not.
Liow part of this new gov? Lols.
If New MY gov renegades on this janji, then RIP for safer cars in MY. RIP the lives lost becoz of this stupidity, and I pray urs will not be one of the statistics.
Amin…
Cybertroopers dun have holiday? lol
Oh ,dun hack may name
We,won’t,allow,monopoly bcos other ehaiing taxi business to,are expanding ang getting sponsored,by other,automobulecompanues so,no big deal and Grab stop boosting around!We the,public also,deserve other choices of transport services,like My,Car,and others,so,we gurentee you that we,re,against,monopoly,and,the PH,government that,we,voted,in won’t allow,that !So,we want,other ehailing transport bussines to grow and expand too,and also,being sponsored and,shared,by bigger car,manufacturers!!We won’t support your monopoly,gesture!!nooo wayyyyyyy and the public allso,use My,Car widely,with other taxi,business!!
can you suggest any other alternative mobile phone app ?
Grab always money mined and so much hiding cost.. getting cheap service for huge money..
Tqvm for the information
Please get ready to pay your tax
A dangerous situation is rooting with Grab taking advantage of its monopoly. They have increased fares for passengers AND increased driver commission to 25% with ZERO incentives. Everyday, drivers are hitting gross fares of RM300, and paying 25% commission to Grab = RM75! After petrol, see just RM150 in earnings for working 12 hour days!
Remember the days when taxi drivers were hung out to dry because they have to pay daily rental to the taxi co? Well, Grab boy has learnt from his daddy.