Published on 11 January 2018
Hyundai Motor announced that it has invested in Singapore-based ride-hailing firm Grab, Uber’s chief rival in the Southeast Asian market with a presence in eight countries, according to Reuters.
The value of Hyundai’s investment in Grab was not disclosed, but the two companies said they will collaborate to develop services in Southeast Asia.
Hyundai joins other investors including China’s Didi Chuxing and Japan’s SoftBank in this latest fundraising round.
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