Here's Why Hyundai Is Investing Another $250 Million in Ridehailing Service Grab
Skift Take
Grab is the go-to for motor companies wanting a piece of Southeast Asia’s future mobility market, as Hyundai’s additional tenfold investment shows.
South Korea’s Hyundai Motor Group is investing an additional $250 million into ridehailing company Grab Holdings, on top of the $25 million it first made in January, bringing Grab’s current fundraising to $2.7 billion and putting it on track to raise over $3 billion by the end of this year.
Investors in Grab’s current financing round include Booking Holdings, Microsoft, Toyota, and global financial institutions such as OppenheimerFunds, Goldman Sachs Investment Partners, and Citi Ventures.
Hyundai group’s total investment of $275 million in Grab to-date is its biggest ever in an automotive technology company, but pales in comparison to the $1 billion that Toyota Motor Corp invested in Grab in June that earns the Japanese company a seat on Grab’s board of directors.
Both have different plans. Hyundai group de
