Toyota invests in ride-sharing app Grab
Grab, an on-demand transportation and mobile payments platform in Southeast Asia, on Tuesday announced the launch of a new data-focused pilot programme with Toyota Motor Corporation, Toyota Financial Services Corporation, and Aioi Nissay Dowa Insurance.
The project aims to use data analysis to enable Grab to offer its driver partners across the region improved access to connected car services that will improve their experience on the Grab platform.
On the same day, Toyota Tsusho Corporation, the sole general trading company of Toyota Group, invested in Grab in its current financing round that is expected to raise $2.5 billion.
Toyota Tsusho made this investment through its Next Technology Fund, and is the latest participant in Grab’s current financing round, led by SoftBank and Didi Chuxing.
As part of the data-focused pilot programme, Grab will share data on driving patterns from 100 Toyota cars in Grab’s fleet, captured by Toyota’s data-transmission driving recorder, TransLog.
Toyota’s team will then analyse the data set and, based on this analysis, offer recommendations on how other connected car services on the Toyota Mobility Service Platform (MSPF) – such as user-based insurance, financing program, and predictive maintenance – could enhance the Grab experience for drivers on the Grab platform.
Grab operates the largest transportation network in Southeast Asia and is one of the most frequently used mobile platforms in the region with nearly three million daily rides.
It claims to offer the widest range of on-demand transportation services in the most markets in Southeast Asia, with more than 55 million app downloads and over 1.2 million drivers in 87 cities across 7 countries.
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