Hyundai Worldwide Global Navigation
Hyundai
joins Grab’s latest Series G financing round
Investment
to help Hyundai expand mobility service in Southeast Asia
Hyundai,
Grab to develop mobility service platform utilizing IONIQ model
Grab is Southeast Asia's largest mobility service provider
SEOUL / SINGAPORE, Jan. 11,
2018 – Hyundai Motor Company, South Korea’s
largest automaker, and Grab, the
leading on-demand transportation and mobile payments platform in Southeast
Asia, today announced a strategic partnership that will expand Hyundai’s innovative future mobility services in Southeast Asia.
The strategic partnership will help Hyundai explore new opportunities in the sharing economy and enhance its capability to lead future mobility in one of the world’s fastest-growing markets, Southeast Asia.
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 Dr. 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.
Focusing
on its ‘open innovation’ spirit, Hyundai has been bolstering its efforts to
transform people’s lives with disruptive technologies and services that
materialize its visions for future mobility – clean, connected and freedom in
mobility. Enhancements in mobility services include car-sharing, -hailing and
–pooling, all of which benefit users by freeing them from existing mobility
limitations.
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. Partnering with WaiveCar, Hyundai in
January 2017 launched a car-sharing program that runs on advertising money,
using IONIQ Electric model in the U.S. In October, Hyundai opened its first
company-operated electric car sharing service in metropolitan Amsterdam,
Netherlands and later in November handed over the first fleet of IONIQ hybrid
models for the new Stadtauto (meaning ‘city car’) car sharing service in Vienna,
Austria. IONIQ is the world’s first model that offers three electrified
powertrain-hybrid, plug-in hybrid and pure battery electric - in a single body
type.
Grab operates the largest transportation network in Southeast Asia and is one of the most frequently used mobile platforms in the region with over 3.5 million daily rides. The Grab app has been downloaded onto over 77 million mobile devices, giving passengers access to the region’s largest land transportation fleet comprising over 2.3 million drivers. Grab now offers private car, motorbike, taxi, and carpooling services across 8 countries and 168 cities in Southeast Asia.
- Ends -
About Grab
Grab is Southeast Asia's leading on-demand transportation and mobile payments platform. Grab solves critical transportation challenges to make transport freedom a reality for 620 million people in Southeast Asia. Grab's core product platform includes transport solutions for drivers and passengers with an emphasis on convenience, safety and reliability, as well as its proprietary mobile payments platform, GrabPay, which is increasing access to mobile payment solutions for millions of Grab riders and drivers across Southeast Asia and deepening financial inclusion in the region. Grab currently offers services in Singapore, Indonesia, Philippines, Malaysia, Thailand, Vietnam, Myanmar and Cambodia. For more information, please visit: http://www.grab.com.
About Hyundai Motor
Established in 1967, Hyundai Motor Company is committed to becoming a lifetime partner in automobiles and beyond. The company leads the Hyundai Motor Group, an innovative business structure capable of circulating resources from molten iron to finished cars. Hyundai Motor has eight manufacturing bases and seven design and technical centers worldwide and in 2017 sold about 4.7 million vehicles globally. With more than 110,000 employees worldwide, Hyundai Motor continues to enhance its product line-up with localized models and strives to strengthen its leadership in clean technology, starting with the world’s first mass-produced fuel cell electric vehicle, ix35 Fuel Cell and IONIQ, the world’s first model with three electrified powertrains in a single body type.
More information about Hyundai Motor and its products can be found at:
http://worldwide.hyundai.com or http://globalpr.hyundai.com
Contact
Jin Cha
Global PR Team / Hyundai Motor
+82 2 3464 2128
Hume Brophy for Grab
+65 9893 1757
