The deal comes as the auto industry faces a spike in the need for technological prowess with the advent of features such as autonomous driving, while app makers offer passengers the option to forgo vehicle purchases by connecting them with drivers. Grab said it plans to work with its new investor "to create a more efficient transport network that will ease traffic congestion in Southeast Asia's megacities" and help its drivers increase their income. The carmaker first invested an undisclosed amount in Grab in August past year, after it invested in US-based Uber in 2016 in a partnership for a financing programme that allowed Uber drivers to lease vehicles from Toyota and drive for Uber to cover the payments.
When asked about other investors in this round, a Grab spokesman told The Business Times: "Toyota will be one of our lead investors for this round".
The two companies already had a relationship: Toyota's trading arm invested an undisclosed amount in Grab past year.
It is also the latest collaboration between a global vehicle maker and a technology firm as ride-hailing companies dominate the fast-growing field of mobility services, raising the risk of a future where auto ownership declines in favour of such services.
Toyota is investing as a lead investor in Grab's ongoing financing round, Grab said in a statement on Wednesday (June 13). It raised $2.5 billion in its last round in July, resulting in a reported value of $6 billion. Six-year-old Grab faces fierce competition from Indonesian rival Go-Jek, which is expanding ride-hailing and other services in Southeast Asia.
Government wins Brexit bill vote after concessions
That has potentially seismic consequences for the protracted and increasingly messy split from Brussels. The upshot of the shift may well be as dramatic as the parliamentary procedure is incomprehensible.
Greece, Macedonia 'Have A Deal' On Name Dispute
Matthew Nimetz, a retired USA diplomat, has been the United Nations mediator on the issue since 1994. Relations sank with the erection of a huge statue of Alexander the Great in Skopje in 2011.
Memphis woman seen letting young girl out of pet kennel
Officers saw that the children were no longer inside the kennels but were seated in the back seat, the affidavit said. There were no air conditioning vents in the back of the vehicle and the children told police they became hot.
A man walks past a Grab office in Singapore March 26, 2018.
A Toyota executive will be appointed to Grab's board and another Toyota representative is being tapped to be an executive officer at Grab, the company said.
Grab added that the investment will allow Grab to further expand its range of online-to-offline services, such as GrabFood and GrabPay, deeper into the region.
Grab now claims over 100 million downloads of its app across eight countries in Asia, including Singapore, Indonesia, Vietnam, Thailand and more. In addition, collaborations in driving-data-based automotive insurance, financial services for Grab drivers and maintenance services are also contemplated under the new partnership. Since then, Grab has boosted its grip on Southeast Asia by buying Uber's business in the region. In 2016, General Motors invested $500 million in Lyft, Volkswagen pumped $300 million into Gett, and Honda invested an undisclosed amount in Grab.
Earlier this year, Uber exchanged its Southeast Asian operations for 27.5% of Singapore-headquartered grab, ending a battle between the two for regional dominance.
Russian Federation will host the World Cup four years after it spent a record $50 billion to host the Winter Olympics in Sochi. Smith will be performing the World Cup's anthem alongside Kosovan singer Era Istrefi and Nicky Jam.
Also featured are adjustable Öhlins shock absorbers, paired with a new front strut brace, both shared with the Polestar 1 . These upgrades will be shown in full when the production S60 saloon is revealed in the U.S. next week.
An intelligent phone function will automatically surface contacts around the time the driver usually calls them, too. The system monitors vehicle movement ever 2 milliseconds and recalculates the required damping force every 10.
White House officials also arranged for the video to be played for reporters at Mr Trump's post-summit news conference. Trump said he had formed a "special bond" with Kim, whom he described as "very talented".
However, he added: 'But why are Trump WH (White House) aides giving our proverbs to China, increasing our proverb deficit?. One user on Weibo, China's version of Twitter, said the saying originated from Irish playwright George Bernard Shaw.
Let's follow the timeline: What did Trudeau say? "I own that, that was my mistake, those were my words", Navarro said . The criticism was echoed by White House economic adviser Larry Kudlow, who joined Trump at the G7 meetings.
Eufemia Garcia watched in horror as Guatemala's Fuego volcano sent scalding ash and gas surging over her home a week. With nearly no family left, she does not know where she will live next, or what she will do to survive.
According to Sky Sports , Premier League champions City had been hoping to strike a deal until 2022 before the World Cup begins. City's Belgian maestro is reported to get £350,000 each week and is one of the Premier League's top earners as a result.
Attorney's Office, the scam affected a minimum of 15 victims, who were collectively charged around $100,000 for the phony tickets. He says the 26-year-old McFarland went on to sell fraudulent tickets totaling nearly $100,000 to various events.
Second dog caught after Winton attack
The Otago Daily Times reports the attack lasted at least five minutes and the victim now has extensive bite marks to his face. The man who was attacked, suffered moderate injuries following the incident and is now in hospital.
Sanders thanks Rodman for being 'helpful' in North Korea
Later in the day, a North Korean state news agency said that Kim had agreed to meet with Trump in Washington at a later date. Tuesday saw Trump describe Kim as "a very talented man" and say he had "developed a very special bond" with the DPRK leader.
First official screenshots for Cyberpunk 2077 released
As you readers probably already know, the newest Cyberpunk 2077 trailer was shown during the Microsoft conference on Sunday. Classes will NOT be picked in the beginning - class system is fluid based on the choices the player makes.
Daemon X Machina announced during Nintendo E3 Direct
Details on the story or the game's setting weren't provided, with the trailer focusing on the fast-paced action of the fights. Daemon X Machina is a brand-new mech game from the mind of Armored Core developer Kenichiro Tsukuda.
Aeon Flux Revived By MTV With Live-Action Reboot
The movie has a miserable 9% on Rotten Tomatoes and couldn't even make back its $62 million budget at the box office . Aeon Flux takes place in the future, at a time when only two cities have survived a global disaster.
National Puerto Rican Day Parade in NYC
Cuomo said the death toll from Hurricane Maria stands at 4,500 - more than twice as many that died in Louisiana's infamous Hurricane Katrina - yet the amount earmarked by Washington to help fix the island's infrastructure has been paltry.