Japan’s Honda Motor Co. has invested in Grab, a ride-hailing service in Southeast Asia, according to a report by Financial Express. Grab currently provides taxi and motorbike-hailing services, carpooling, delivery, and mobile payments in Southeast Asia.
The investment is part of a $750 million funding previously announced for the partnership, which will help develop ride-hailing technologies and driver education programs, according to the report.
“We are in the planning stages on exactly what a full partnership will look like, and there are many different prongs of that,” Ming Maa, president of Grab, told Financial Express. “One prong would obviously include selling Honda motorbikes within the region.”
Other investors in Grab include China Investment Corp., Didi Chuxing, and Vertex Ventures.
Click here for the full Financial Express report.