Honda ties up with ride-hailing service Grab

Singapore

SOUTH-EAST Asian ride-hailing service Grab disclosed on Monday that Japan's Honda Motor Co had invested in the firm, as part of a US$750 million funding announced previously, to collaborate on motorbike-hailing services.

This is the latest tie-up of its kind in the vehicle industry, where carmakers such as Volkswagen, Toyota Motor Corp and General Motors have also struck deals with ride-sharing firms to hedge against a shift in the vehicle market away from private ownership.