Hyundai Motor and Grab Sign Strategic Partnership

The investment was made to help Hyundai expand mobility service in Southeast Asia

Hyundai Motor Company, South Korea’s largest automaker, and Grab, Southeast Asia’s (SEA) leading on-demand transportation platform announced a strategic partnership that will see Hyundai expand its innovative future mobility and explore new opportunities in the sharing economy services in the SEA region. 

The two companies will jointly explore ways to develop and provide innovative services to Southeast Asian customers, including a new mobility service platform that will utilize Hyundai’s eco-friendly models such as the IONIQ Electric.

“Hyundai’s strategic investment in Grab marks the beginning of an exciting new partnership between the two parties, bringing Hyundai one step closer to realizing its vision for future mobility. Grab’s expertise in the Southeast Asian market coupled with Hyundai’s eco-vehicle leadership will bring innovative services to customers,’’ said Young Cho Chi, chief innovation officer and head of Strategy & Technology Division, which was established last year to spearhead Hyundai’s future innovation. “We will continue expanding collaboration with leading mobility service providers in the world.”

Grab’s Series G financing marks the company’s latest and largest fundraising round and significant investors including Didi Chuxing, SoftBank and Toyota Tsusho have participated in the funding together with Hyundai.

“As we move into the next stage of Grab’s growth, we look forward to collaborating closely with Hyundai to continue innovating new mobility solutions for Southeast Asia. We are pleased to welcome Hyundai to our global network of strategic partners, and we are confident that we have an alliance of strong partners to push forward into Grab’s next phase of long-term growth,” said Anthony Tan, Group CEO and co-founder of Grab.

Hyundai has been enhancing its mobility services in world’s major locations as it is committed to offer smarter value to customers to cope with rapidly-shifting market paradigm in automotive industry.

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