Hyundai Motor invests in Southeast Asian ride-sharing Grab

January 11, 2018 by Youkyung Lee

Hyundai Motor is joining hands with Southeast Asian ride-hailing service Grab to break into one of the world's fastest-growing markets.

The South Korean company said Thursday that is partnering with the Singapore-headquartered company to explore joint use of Hyundai's Ioniq electric cars, among others, to develop ride-hailing or other services.

Under the partnership with Hyundai, Grab has raised more than $2.5 billion in its latest round of fundraising, which also includes Didi Chuxing, Softbank and Toyota Tsusho.

Tech services companies and auto manufacturers are stepping up cooperation on self-driving, artificial intelligence and other new technologies that are reshaping the auto industry.

Explore further: Hyundai, Aurora to release autonomous cars by 2021

Related Stories

Chinese ride-hailing service raises $7.3 billion

June 16, 2016

Chinese ride-hailing service Didi Chuxing, the main local competitor for Uber Technologies Ltd., said Thursday it has raised $7.3 billion from investors, adding to intensifying rivalry in the market.

Hyundai unveils South Korea's first electric car

September 9, 2010

Hyundai Motor Thursday unveiled South Korea's first full-speed electric car, designed to tap into the increasingly competitive electric auto market, hailed as the industry's future.

Recommended for you

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.