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Bloomberg
Grab is attracting more global backers after the ride-hailing service defeated Uber Technologies Inc. in Southeast Asia. A motorcycle maker has become the latest investor.
Yamaha Motor Co. agreed to invest $150 million in Grab and the two will collaborate on motorcycle-ride services in Southeast Asia with a focus on Indonesia, the Japanese manufacturer said in a statement.
Singapore-based Grab is teaming up with global giants to expand its reach after forcing Uber out of Southeast Asia earlier this year. Toyota Motor Corp. said in June it was investing $1 billion in Grab, and Hyundai Motor Co. last month agreed to put an additional $250 million into the company and sell a fleet of electric vehicles to the ride-hailing service.
Carmakers and technology companies alike are working towards a future where autonomous robo-taxis will lessen the need for individual car
ownership.
Yamaha said the pact will make it easier for Grab drivers to buy motorbikes, while the motorcycle maker plans to leverage Grab’s ride-hailing know-how in future product development.