Grab to get S$206 million from Yamaha Motor as part of motorcycle ride-hailing partnership
Grab Holdings said Yamaha Motor will invest US$150 million as part of an agreement to form a partnership on motorcycle ride-hailing services within the South-east Asian region, with a focus on Indonesia.
The Japanese automaker also aims to leverage Grab’s customer base in South-east Asia and knowledge of the motorcycle ride-hailing business for future product development, according to a statement on Thursday (13 December).
“The safety of our driver-partners and passengers is of paramount importance to us and we will continue to work with our partners to roll out innovative solutions and initiatives that make Grab the safest and most reliable ride-hailing platform in South-east Asia,” said Grab’s president Ming Maa.
Last month Grab secured US$250 million from Hyundai, taking the funds it has raised so far to US$2.7 billion. The company aims to attract over US$3 billion by the end of this year.
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