JAKARTA (TheInsiderStories) – Japan manufacturer Yamaha Motor Co., Ltd. and Grab Holding Inc., Southeast Asia’s online-to-offline (O2O) platform, have agreed to form a strategic partnership in motorcycle ride-hailing service within the Southeast Asian region, with a focus on Indonesia. Yamaha will invest US$150 million into Grab.
As part of the 2030 Long-Term Vision, which Yamaha announced on Dec. 11, this partnership leverages robotics technology (Advancing Robotics), addresses social issues through initiatives in the unique style of Yamaha (Rethinking Solution), and promotes innovations in mobility (Transforming Mobility).
The manufacturer also aims to leverage Grab’s customer base in Southeast Asia and knowledge of the motorcycle ride-hailing business for future product development.
Takuya Kinoshita, Chief General Manager of Motorcycle Business Operations, Yamaha Motor Co., Ltd. said, “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.”
While, Ming Maa, President of Grab stated, “We are thrilled to partner with Yamaha to develop and provide industry-leading safety mobility services to our motorcycle driver-partners in Indonesia”
In August, Grab has raised $2 billion for its current round of financing. Last June,Toyota Motor Corporation also announced to invested as much as $1 billion in the ride-hailing provider.
As part of the agreement, Toyota and Grab will strengthen and expand their existing collaboration in the area of connected cars, to drive the adoption of new mobility solutions across Southeast Asia.
Grab stated, Toyota has been joined by a slate of leading global financial institutions, including Macquarie Capital, Ping An Capital, Mirae Asset – Naver Asia Growth Fund, Cinda Sino-Rock, OppenheimerFunds, Investment Management Company, All-Stars Investment, Vulcan Capital, Lightspeed Venture Partners, and other investors, underscoring Grab’s aim to be the leading technology player in the region.
It said, the investment by these leading global financial institutions reflect their belief in Grab’s long-term growth opportunity, and the company’s unique ability to unlock the region’s growth potential through Grab’s industry-leading O2O and transportation platform.
This investment by Toyota is the largest-ever by an automotive manufacturer in the global ride-hailing sector, and brings Grab closer to achieving its vision of becoming a one-stop mobility platform in Southeast Asia.
Grab operates in 217 cities across eight Southeast Asian countries and offers users safe and affordable transport, food and package delivery, mobile payments and financial services through its Grab mobile app.
The ride-hailing has announced on April 6 that it had acquired the South-east Asia business of its rival Uber, including in Indonesia country with the largest middle class population.
As part of Grab 4 Indonesia’s master plan to create millions of income opportunities through the digital economy, Grab announced a further expansion plan not only for its main line of business in transportation, but also GrabFood, GrabExpress, GrabPay and GrabFinancial introductions in Indonesia.
The company has won support for its GrabPay service from third-party merchants in Indonesia last year, from biggest Indonesian conglomerate Lippo Group to enter the payments space Ovo.id, an e-money transfer company aimed to ramp up their position in the market.
As a further step to build its financial technology platform, Grab has teamed up with Japan’s Credit Saison to create a joint venture called Grab Financial Services Asia, extending its service offerings to micro-loans and insurance options for Grab drivers and businesses that use its GrabPay services.
As today, the Grab app has been downloaded onto over 125 million mobile devices, giving users access to over 8 million drivers, merchants and agents. Grab has the region’s largest land transportation fleet and has completed over 2.5 billion rides since its founding in 2012.
Grab offers the widest range of on-demand transport services in the region, in addition to food and package delivery services, across 235 cities in eight countries.