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Honda invests in Grab

12/13/2016| 11:26:09 AM| 中文

Honda is the latest automotive manufacturer to get involved in the ride-hailing sector, taking an equity stake as part of a wider strategic partnership with Southeast Asia’s Grab.

Grab, formely GrabTaxi, claims to be the “largest transportation network and highest frequency mobile internet transaction platform in Southeast Asia.”

The amount invested by Honda has not been disclosed, although Reuters reports that the stake was part of Grab’s $750 million funding round completed this September which valued the business at $3 billion.

Grab concentrates its Southeast Asia business on 41 cities in six countries – Singapore, where it is based, Thailand, Malaysia, the Philippines, Vietnam and Indonesia. 

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TAGS: Honda | Grab | car-hailing
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