Toyota said it has concluded an agreement with Grab Holdings to strengthen their existing partnership and expand the collaboration between Toyota and Grab in Southeast Asia to drive further advances in Mobility as a Service across the region. As part of this agreement, Toyota will invest $1B in Grab. Furthermore, to accelerate decision-making, one Toyota executive will be appointed to Grab’s board of directors and a dedicated Toyota team member will be seconded to Grab to as an executive officer, with Toyota considering more personnel exchanges in the future. Since August 2017, Toyota and Grab have been developing connected services for Grab utilizing driving data collected by Toyota’s TransLog data-transmission driving recorder. Toyota and Grab’s initial success led them to expand their collaboration. This expansion is aimed at achieving connectivity for Grab’s rental car fleet across Southeast Asia, and at rolling out various connected services throughout the region that utilize vehicle data stored on Toyota’s MSPF. In addition, collaborations in driving-data-based automotive insurance, financial services for Grab drivers and maintenance services are also contemplated under the new partnership. Through this new agreement, Toyota and Grab plan to shift into full-scale implementation of services they have been developing to customers in Southeast Asia. The two companies will look for future collaborations aimed to achieve more-efficient ride-hailing businesses and for developing future mobility service solutions and MaaS vehicles.
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