Grab
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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...
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Uber retreats from Southeast Asia by selling operations to rival GrabUber 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
