Honda Motor invests in ride-hailing service Grab

by SpeedLux
Grab ride hailing

Southeast Asian ride-hailing service Grab stated it had secured an investment from Japanese car manufacturer Honda Motor as part of a deal to team up on its motorbike-hailing service, in the most recent vehicle market tie-up of its type.

Grab stated Honda had accepted to invest an undisclosed amount in the company, and the two companies would form a collaboration to develop the ride-sharing innovation and associated driver education programs.

Car manufacturers including Volkswagen, Toyota Motor and General Motors also have tie-ups with ride-sharing companies to hedge against a shift in the car market away from private ownership.

Grab is the biggest rival to ride-sharing service Uber in Southeast Asia, raised $750 million in a funding round in September. A source knowledgeable about the matter stated the round valued Grab at over $3 billion.

Previously this month, Grab, whose services consist of taxi and motorbike-hailing, car-pooling, delivery and mobile payments, revealed that Tokyo Century Corp had made a tactical investment in the company for an undisclosed amount.

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.


SpeedLux is a high-authority automotive blog providing the latest automotive news and reviews. SpeedLux covers everything related to cars, bikes, and motorcycles, from news and reviews, to troubleshooting guides, tips and tricks, and more. SpeedLux was born in 2009 and we have over 20,000 articles published on our blog. We thank all our readers, as well as our partners, without whom we could not have reached this level.


©2009 – 2024 SpeedLux – Daily Automotive News and Reviews. All Right Reserved.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More