Regional Outlook, Global Perspective

HYUNDAI RAISES STAKE IN GRAB WITH SECOND INVESTMENT

Hyundai Motor Co has raised its stakes in growing Southeast Asian markets with a $250 million investment in Singapore’s Grab, its second in the ride-hailing firm, as it chases rivals in the race for new-age transportation, Reuters reports. The investment from Hyundai follows Microsoft’s move last month into Southeast Asia’s ride-hailing competition landscape. The two companies will also collaborate on technology projects in areas such as big data and artificial intelligence, according to CNBC. Hyundai group desires to be a leader in clean mobility and wants to collaborate with Grab in the electric vehicle sector, including a new platform that will use Hyundai’s eco-friendly models such as the IONIQ Electric, writes Raini Hamdi for Skift.

08/11/2018 in Daily Briefs, Indonesia, Regions

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