Japanese leading global automaker Toyota Motor Corporation (TYO: 7203), Toyota Financial Services (TFS), Aioi Nissay Dowa Insurance Co. and Singapore-based Grab Inc., the leading ride-hailing and mobile payments platform in Southeast Asia, announced a collaboration to provide ride-hailing services throughout Southeast Asia.
Toyota Tsusho Corp, through its Next Technology Fund, also became the latest participant in Grab’s current $2.5 billion financing round, led by SoftBank and Didi Chuxing.
Grab offers the widest range of on-demand transportation services in Southeast Asia, with more than 55 million app downloads and over 1.2 million drivers in 87 cities across 7 countries.
“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.” said Shigeki Tomoyama, Senior Managing Officer of Toyota Motor Corporation and President of the Connected Company.
“Toyota is a global leader in the automotive sector and one of the most popular brands with drivers on our platform right across Southeast Asia, and we’re excited to work together to explore how we can extend more and better connected car services to our driver partners,” said Anthony Tan, co-founder and CEO of Grab Inc. “We are confident this will benefit our driver partners, and we look forward to exploring other ways to collaborate with Toyota in the future.”
Toyota’s Connected Company developed the data-transmission TransLog driving recorder, a device that captures driving patterns and delivers telematics services like the vehicle position management system to fleet customers.
With TransLog installed in 100 Grab rental cars, Toyota will analyze driving patterns to better enable it to deliver connected services such as insurance, financing programs, and predictive maintenance.