Mexican Media Brands
Grab Raises Another $2 Billion to Expand Ride-Hailing Services
Singapore-based GrabTaxi Holdings Pte. Ltd. has raised $2 billion in new financing, about half of it from Toyota Motor Corp.
Share
Singapore-based GrabTaxi Holdings Pte. Ltd. has raised $2 billion in new financing, about half of it from Toyota Motor Corp., Bloomberg News reports.
The 6-year-old ride-hailing/ride-sharing startup plans to use the funds to expand in southeast Asia and introduce such new services as food delivery.
Grab agreed in March to acquire Uber Technology Inc.’s operations in southeast Asia. The company is locked in an expensive battle with Indonesian rival Go-Jek for dominance in the region, especially Indonesia.
Grab President Ming Maa tells Bloomberg the company currently coordinates more than 7 million drivers and agents in 225 cities and eight countries.
RELATED CONTENT
-
On Fuel Cells, Battery Enclosures, and Lucid Air
A skateboard for fuel cells, building a better battery enclosure, what ADAS does, a big engine for boats, the curious case of lean production, what drivers think, and why Lucid is remarkable
-
TRW Multi-Axis Acceleration Sensors Developed
Admittedly, this appears to be nothing more than a plastic molded part with an inserted bolt-shaped metal component.
-
Multiple Choices for Light, High-Performance Chassis
How carbon fiber is utilized is as different as the vehicles on which it is used. From full carbon tubs to partial panels to welded steel tube sandwich structures, the only limitation is imagination.
