Toyota, Japan's largest carmaker, announced Wednesday that it would invest Grab in Southeast Asia to share its funding and said it would join Grab in South East Asia. Toyota had invested in Uber last year and joined the new Uber driver Sensor to provide a rental plan to allow car buyers to rent cars through the Toyota Financial Services Group and pay for the Uber. Toyota joins Grab and Uber to explore new revenue models.
As demand travels have threatened the existing pattern of individual car ownership, carmakers are working with technology companies or competing with them to figure out how to earn revenue by providing services to drivers. Toyota's main competitor in the Japanese market, Honda, also invested in Grab, hoping to expand the motorcycle service in the Southeast Asian market. Toyota's investment in Grab may be done through the 'Future Technology Fund', which was established in April this year. The fund has a registered capital of 6 billion yen ($ 55 million) to explore opportunities for innovative technologies, products and services. Grab's current goal is to raise $ 2 billion through the latest round of financing. The company Pressure Sensor had previously raised $ 2 billion from the trick and Softbank. Earlier news that the current round of financing for Grab's valuation of more than 6 billion US dollars, higher than in September 2016 before the financing of 30 billion US dollars. At that time Grab completed a $ 750 million financing. This round of financing shows that drops and soft silver are convinced that Grab has the ability to beat Uber in the Southeast Asian market, just as the drop in the Chinese market before defeating Uber. Last August, Uber sold the Chinese business to the drop. Uber will sell the Russian business to local rival Yandex this month, again triggering speculation that Grab will beat Uber.
Grab operates in seven countries in Southeast Asia, with more than 50 million downloads and more than 1.2 million registered drivers. The company is dedicated to licensing taxis and limousine services, as well as motorcycles and shuttle bus services in some countries. Uber did not publish data for business in Southeast Asia. However, sources said Speed Sensor that since last summer, Uber has been in some markets in Southeast Asia to achieve profitability. After withdrawing from the Chinese market, Uber increased investment in Southeast Asia and India. Wednesday reported that Uber had suspended a month's operating business before the Philippines was reinstated after agreeing to pay a fine of nearly $ 10 million and a compensation for the driver.
Toyota will record and analyze the driving model of 100 Singapore Grab cars to advise Grab drivers on what network services the company can offer. In addition to holding Grab's main rival Uber in the Southeast Asian market, Toyota also Throttle Position Sensor holds shares in the United States share travel service Getaround. Getaround from this month to test new car sharing technology in Hawaii.