Yamaha Motor is the latest name to announce an investment into Grab
Japanese motor manufacturer Yamaha Motor today announced a strategic partnership with Southeast Asian ride-hailing giant Grab, to collaborate in motorcycle ride-hailing service within the region, with a focus on Indonesia.
Yamaha Motor will also invest US$150 million into Grab as part of the partnership agreement.
The two companies aim to develop “next-generation” mobility services by leveraging Yamaha Motor’s technology and know-how in motorcycle safety, as well as to lower the barriers to motorcycle purchasing for riders or aspiring riders.
It will leverage on robotics technology, Yamaha’s social initiatives, and mobility innovations.
Yamaha Motor also aims to leverage Grab’s customer base in Southeast Asia and knowledge of the motorcycle ride-hailing business for future product development.
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“We anticipate significant advancements through this collaboration with Grab via strategic partnership. As well as increasing user and driver safety and confidence through incorporation of Yamaha Motor technology in new user-participation type transport systems, we also anticipate further increases in the value of motorcycles in future mobility systems, and the creation of new mobility solutions,” explained Yamaha Motor Chief General Manager of Motorcycle Business Operations Takuya Kinoshita in a press statement.
In November, Grab signed an agreement with South Korean automaker Hyundai and Kia to invest an additional US$250 million into the ride-hailing company.
It has also raised US$50 million from Thailand’s Kasikorn Bank to bring its GrabPay feature into the market.
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Image Credit: Grab
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Source: E27