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Yamaha to invest $150 million in Grab

By Hung Le   December 14, 2018 | 04:07 am PT
Yamaha to invest $150 million in Grab
New hires relax at a lounge area in a Grab office in Singapore. Photo by Reuters/Edgar Su
Yamaha Motors has announced a $150 million investment in Grab to collaborate on motorcycle ride-haling.

The collaboration will be for Southeast Asia in general and Indonesia in particular.

Through this partnership, Yamaha Motors and Grab aim to "develop next-generation mobility services by implementing solutions and innovations," Grab said in a press release issued Thursday.

The two companies aim to leverage Yamaha Motor’s technology and knowhow to boost safety as well as make it easier for Grab’s driver partners to buy motorbikes.

Yamaha Motors also aims to leverage Grab’s customer base in Southeast Asia and knowledge of the motorcycle ride-hailing business for future product development.

The Southeast Asian ride-hailing firm is teaming up with global investors to expand its reach after forcing Uber out of Southeast Asia earlier this year.

Toyota Motor Corp. had said in June it was investing $1 billion in Grab, and Hyundai Motor Co. last month agreed to put an additional $250 million into the company as well as sell Grab a fleet of electronic vehicles.

The focus on Indonesia may mean that Grab is intensifying its push against local ride-hailing platform Go-Jek. Both companies now compete in the Vietnamese market after the Jakarta-based start-up commenced operations in Vietnam under the name Go-Viet some months ago.

Grab entered Vietnam early in 2014, but is currently under an antitrust investigation after acquiring Uber’s services in March.

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