Yamaha invests US$150mn in Grab to double down on motorbike ride-hailing
Southeast Asian ride-hailing firm, Grab, has gained a US$150mn investment from Yamaha Motor during its ongoing Series H round.
Through the investment, the companies will collaborate on motorbike-hailing services throughout Southeast Asia.
Zeroing in on the Indonesian market, the companies aim to improve rider safety, inform future product development and lower the barriers to motorcycle purchasing for those engaged in, or considering to engage in, motorcycle ride-hailing.
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Ming Maa, president at Grab said:“We are thrilled to partner with Yamaha to develop and provide industry-leading safety mobility services to our motorcycle driver-partners in Indonesia.
“The safety of our driver-partners and passengers is of paramount importance to us and we will continue to work with our partners to roll out innovative solutions and initiatives that make Grab the safest and most reliable ride-hailing platform in Southeast Asia.”
Yamaha is the fourth automotive manufacturer to invest on Grab’s ongoing funding round.
The investment round is led by fellow Japanese firm Toyota and includes South Korean car maker Hyundai and Kia.
"We anticipate significant advancements through this collaboration with Grab via strategic partnership," said Executive Officer Takuya Kinoshita, Chief General Manager of Motorcycle Business Operations, Yamaha Motor Co., Ltd.
"As well as increasing user and driver safety and confidence through incorporation of Yamaha Motor technology in new user-participation type transport systems, we also anticipate further increases in the value of motorcycles in future mobility systems, and the creation of new mobility solutions."
Other investors include Microsoft, Thai bank Kasikorn and travel firm Booking.
Grab offers on-demand transport services, as well as food and package delivery services, across 235 cities in eight countries.
The firm currently offers services Singapore, Indonesia, the Philippines, Malaysia, Thailand, Vietnam, Myanmar and Cambodia.
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