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TOKYO (Reuters) – Toyota Motor Corp on Wednesday announced it would invest in Grab and install its driving recorder devices in vehicles operated by the Singapore-based ride-hailing service, as the automaker expands further into new driving services.
The agreement includes an undisclosed investment in Grab by Toyota Tsusho, the automaker’s trading arm, as part of the ride-hailing company’s latest financing round.
Under a pilot program, Toyota will have its TransLog device installed into 100 Grab rental cars, enabling the companies to analyze driving patterns as well as offer improved access to connected car services.
Reporting by Naomi Tajitsu; Editing by Himani Sarkar
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