Ride-hailing firm Grab to launch electric cars in Vietnam

Grab is partnering with South Korea’s automotive manufacturer Hyundai Motor to encourage the adoption of electric vehicles in Southeast Asia, Singapore’s business and financial newspaper The Business Times reported.

Both parties will test new business models including battery and electric vehicles leasing, thus lowering the entry barrier for its driver as the cost to own an electric car is high.

Grab had said in an earlier report that some of the concerns that make drivers reluctant to use electric vehicles are their price, lack of charging stations and long waiting time for the battery to be fully charged.

Russell Cohen, Grab’s managing director of operations, said that the company hopes governments will have incentive policies and essential infrastructure like charging stations so that electric vehicles will have many opportunities to develop.

Grab and Hyundai have been partners since 2018. In 2019, the ride-hailing firm purchased 200 Hyundai Kona electric cars for its car-hiring service GrabRentals in Singapore.