Toyota Motor Corporation is investing $1 billion in Grab Holdings, the Singapore-based ride-hailing platform provider.
Grab, which has merged with Uber in south-east Asia, offers services which use a variety of transport modes, from bicycles and shuttle buses to cars and taxis.
The companies say Toyota’s investment means they will also “strengthen and expand their existing collaboration in the area of connected cars, to drive the adoption of new mobility solutions across south-east Asia”.