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Grab secures investment from Japan's Honda
GRAB on Monday said Japan's Honda - the world's largest motorcycle manufacturer - has made a "strategic investment" in the ride-hailing service. The sum was undisclosed.
Grab and Honda Motor have signed a memorandum of understanding to collaborate to boost the market for GrabBike drivers and riders in all countries where GrabBike operates. GrabBike operates in Indonesia and Vietnam.
In a joint media statement, they said Grab and Honda plan to work together to address "South-east Asia's toughest urban transportation challenges".
The companies expect to collaborate on driver education programmes to promote motorbike safety, efforts to reduce traffic and environmental congestion in urban areas through ride-share and other technology developments.
Honda joins Japanese telecom giant SoftBank as an investor in Grab.
"We are excited to enhance the GrabBike user experience for our rapidly growing community of GrabBike drivers and riders by partnering with Honda, the largest motorcycle manufacturer in the world, and create a more sustainable and efficient transport supply for South-east Asia," said Ming Maa, president of Grab.
"We welcome Honda as a shareholder and key partner on innovative mobility solutions over the long term as we continue to drive South-east Asia forward."
Shinji Aoyama, operating officer and director of Honda, said: "In the midst of the dramatic structural change of the mobility industry, the 'sharing economy' that is rapidly expanding all around the world has great potential to broaden the concept of mobility itself. For the collaboration with Grab, we will discuss how we can offer safer and more convenient products and services for our shared goal of resolving issues and challenges facing society in South-east Asia."