Toyota pumps $1 billion into Grab as auto industry bets big on ride-hailing startups

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A man walks past a Grab office in Singapore March 26, 2018.


SINGAPORE (By Aradhana Aravindan and Naomi Tajitsu, Reuters) – Toyota Motor Corp has agreed to buy a $1 billion stake in Southeast Asia’s Grab in the biggest investment by a carmaker into a ride-hailing firm, at a time when traditional automakers are racing to team up with disruptive tech companies. The value of six-year-old Grab will be just…Read More

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