Hyundai to Invest in Grab, Uber's Largest Rival in Southeast Asia

January 14
8:51 PM 2018

Hyundai Motor (HYUNDAI-MOTOR) has invested in Singapore-based ride-hailing firm Grab (GRABTAXI, +0.00%), Uber’s (UBER, +0.00%) biggest ride-hailing rival in Southeast Asia, as the South Korean automaker looks to expand beyond its traditional business of producing and selling vehicles.

Grab did not disclose the value of Hyundai’s investment. Hyundai joined other investors, including Didi Chuxing, SoftBank and Toyota Tsusho (Toyota’s Next Technology Fund) in the latest fundraising round, Grab said.

Full Read

© 2023 VCPOST, All rights reserved. Do not reproduce without permission.


Join the Conversation

Subscribe to VCpost newsletter

Sign up for our Deals of the Day newsletter.
We will not spam you!

Real Time Analytics