Japanese automaker Honda Motor Co. has invested in South Asian ride-hailing service, Grab, as a part of its collaboration with the motorbike service provision company; following the footsteps of Uber and the likes.
In its official statement, Grab has revealed that Honda has partnered with the firm to finance an undisclosed investment. The collaboration will aim to introduce the motorbike service provision along with different programs to develop the ride-sharing technology and related driver education programs.
Apart from Honda, Grab also has gigantic investments from the industry’s bigwigs like General Motors, Volkswagen, and Toyota Motor Corp. The flexible partnerships aim to introduce a dynamic shift in the automotive industry, to shed the influence of private ownership in the vehicle market.
Earlier this month, Grab also announced that the Japanese financial services company Tokyo Century Corp, has also made a secured and strategic investment in the firm. The basic services of Grab include car-pooling, taxi and motorbike-hailing, delivery and mobile payments.