Toyota invests in Grab to extend ride-share foray

(Aug 30): Toyota Motor is pushing deeper into the ride-sharing business.

Japan’s biggest carmaker will invest an undisclosed amount in Grab, Southeast Asia’s leading ride-hailing operator, and said it will work with the company to provide services in the region. The latest deal comes a year after Toyota bought a small stake in Uber Technologies Inc. as part of alliances it is stitching together to explore new revenue models.

“Through this collaboration with Grab, we would like to explore new ways of delivering secure, convenient and attractive mobility services to our fleet customers in Southeast Asia,” Shigeki Tomoyama, a senior managing officer at Toyota, said in a statement Wednesday.

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