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Jakarta Post

Toyota investing $1 billion in Asian ride-share firm Grab

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    Agence France-Presse

Tokyo   /   Wed, June 13, 2018   /   09:52 am
Toyota investing $1 billion in Asian ride-share firm Grab Grab and Uber helmets on sale at a used-helmet shop in Jakarta, Indonesia, April 2, 2018. (Reuters/File photo)

Toyota said Wednesday it was investing $1 billion in Asia ride-share company Grab, as the Japanese automaker looks to expand beyond its core business into the "mobility" sector.

Grab, which is headquartered in Singapore, is a leading player in the ride-share industry in Asia, and earlier this year agreed to acquire US giant Uber's regional operations.