Hyundai,  Kia Invest Additional US$250 Million in Grab

Hyundai, Kia Invest Additional US$250 Million in Grab

07.11.2018: • Grab, Hyundai and Kia will create a Southeast Asia-wide electric vehicle (EV) partnership aimed at driving the adoption of EVs in the region

•    Grab, Hyundai and Kia will create a Southeast Asia-wide electric vehicle (EV) partnership aimed at driving the adoption of EVs in the region


•    Hyundai Motor Group’s automotive affiliates Hyundai and Kia join Grab’s current financing round, which has raised US$2.7 billion to date


•    Hyundai Motor Group is committed to promoting zero-emission mobility services in Southeast Asia

 




Hyundai Motor Group and Grab Holdings Inc. (Grab), Southeast Asia’s leading O2O (online to offline) mobile platform, today announced an agreement under which Hyundai Motor Company (“Hyundai”) and Kia Motors Corporation (“Kia”) will invest an additional US$250 million into Grab and establish a partnership to pilot EV programs across Southeast Asia.
 


Under the EV partnership, Grab and the Hyundai Motor Group affiliates will bring together stakeholders from the EV industry to collaborate on measures to improve EV adoption and awareness in Southeast Asia.
 


“As home to one of the world’s fastest growing consumer hubs, Southeast Asia is a huge emerging market for EVs,” said Dr. Youngcho Chi, Hyundai Motor Group’s Chief Innovation Officer and head of Strategy & Technology Division. “With its unparalleled footprint across the region, and an ever-expanding base of customers and merchants, Grab is an invaluable partner that will help accelerate the adoption of electric vehicles in Southeast Asia.”
 


To start, Grab, Hyundai and Kia will launch a series of EV pilot projects in Southeast Asia starting with Singapore in 2019. The pilot projects will focus on utilizing EVs to maximize cost efficiencies for Grab’s driver-partners.



The EV partnership will also work with regional stakeholders including governments and infrastructure players to improve EV infrastructure in the region, such as the building of a network of quick-charge stations. The EV partnership will also explore the development of customized maintenance packages to Grab EV drivers and conduct research into how EVs can be most efficiently deployed in Southeast Asia under hot and humid climate conditions.
 


“As the largest fleet owner of EVs in Singapore, we are excited to establish an industry partnership with Hyundai Motor Group to drive EV adoption across Southeast Asia.  We both share a common vision on the electrification of mobility as one of the key foundations for building an environmentally sustainable and lowest-cost transportation platform,” said Ming Maa, President of Grab.
 


The three companies will also explore how to customize EVs to optimize them for mobility service platforms.
 


The additional investment builds on Grab’s existing strategic partnership with Hyundai and brings Grab’s current fundraising to US$2.7 billion raised. Grab is on track to raise over US$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 first invested in Grab in January, and the two companies began exploring collaborations in the EV sector. Grab’s latest initiative, which expands its cooperation with the Korean automotive group to include Kia, is a milestone in the company’s continuing efforts to promote the use of EVs in Southeast Asia.




In August, Grab announced a partnership with Singapore’s energy utilities provider, SP Group, to use SP Group’s public EV charging network for its EVs.
 


With a commitment to driving innovation that will enhance its foothold in the future mobility market, Hyundai and Kia have been making significant strategic investments in promising start-ups.




From technologies such as autonomous driving and artificial intelligence, to ride-sharing and things in-between, Hyundai Motor Group is building a network of industry experts that will contribute to enhancing people’s lives through the development of innovative mobility services. In line with its goal of becoming a leader in clean mobility, the Group also plans to develop more than double the number of its eco-friendly models to 38 by 2025.
 



Grab is one of the most frequently used mobile O2O platforms in Southeast Asia, providing everyday services that matter most to consumers. Today, the Grab app has been downloaded onto over 125 million mobile devices, giving users access to over 8 million drivers, merchants and agents.




Grab has the region’s largest land transportation fleet and has completed over 2.5 billion rides since its founding in 2012. Grab offers the widest range of on-demand transport services in the region, in addition to food and package delivery services, across 235 cities in eight countries.

 

 

 

 
 Kia Motors Corporation, Photo Credit: Bloomberg New Economy Forum

Permanent-URL: http://www.automobilsport.com/hyundai-kia-invest-grab---183122.html

07.11.2018 / MaP

Weitere Beiträge

Daimler subsidiary Accumotive doubles the amount of employees to approximately 1.000
06.11.2018
    Ramp-up of the electromobility site Kamenz is progressing fast. photo caption:  Common factory tour in Kamenz with Michael Kretschmer (4th f.l.), Minister President of Saxony, Roland Dantz (2nd f.l.), Lord Mayo weiter >>
Alliance Ventures invests in Transit to advance multi-modal transportation
05.11.2018
Transit’s mobile app aggregates and maps real-time transportation data, functional in more than 175 metropolitan areas around the world.Alliance Ventures, the strategic venture capital arm of Renault-Nissan-Mitsubishi, has announced today weiter >>
Volkswagen Group makes further progress with its work on quantum computers
05.11.2018
With a newly developed quantum algorithm, public transport organizations and taxi companies can deploy their fleets more efficiently and minimize waiting times for passengers    Volkswagen and D-Wave are presenting the project together at the WebSummit in Lisbon weiter >>
Audi puts partial matting into volume production
05.11.2018
Audi customers will be able to drive even more individualized cars in the future – thanks to partial matting. Audi is the first automobile manufacturer to offer its customers this kind of individualization.    Innovative technology weiter >>
Kia and Hyundai reveal solar charging system technology to power future eco-friendly vehicles
31.10.2018
•    Solar charging panels help recharge car batteries using the sun’s energy•    First generation ‘solar roof’ system will be introduced to Hyundai Motor Group vehicles from 2019 – including future cars from Kia•    Semi-transparent solar roof is the world’s fir weiter >>
Poland-based Toyota plant begins production of hybrid electric transaxles
30.10.2018
Toyota starts production of fourth-generation hybrid electric transaxles at the Toyota Motor Manufacturing Poland (TMMP) plant in Wałbrzych. TMMP is the first plant outside of Asia to manufacture this type of hybrid electric transaxle.    T weiter >>
Volkswagen, Mobileye and Champion Motors to Invest in Israel
30.10.2018
...and Deploy First Autonomous EV Ride-Hailing Service Volkswagen Group, Mobileye and Champion Motors have announced plans to commercialize Mobility-as-a-Service (MaaS) with self-driving vehicles in Israel.    Volkswa weiter >>
xStarters challenge for digital social ideas from teens
24.10.2018
xStarters challenge runs until November 30, 2018    300 young people registered and 50 teams established in the first few days after the announcement    Federal Minister of Labor Heil: xStarters combines digital education and social action weiter >>
Foresight Williams Technology EIS Fund invests £1.7m into Innovative E-Bike System
23.10.2018
...E-Bike System Company FreeFlow Technologies Limited •        FreeFlow are developing a super compact, high performance e-bike system•   weiter >>
Volkswagen Group China builds first factory specifically designed for MEB production
19.10.2018
In 2020 the new SAIC VOLKSWAGEN factory in Anting, Shanghai will produce cars and battery systems based on Volkswagen’s Modular Electric Drive Kit (MEB), a unique platform specifically designed for mass production of electric drives    weiter >>
Interactive headlights and tail light clusters help to raise the bar for safety in future
17.10.2018
Future lighting systems will project 3D holograms containing information onto the road and into the virtual space    In-house centre of lighting excellence at the Wolfsburg plant Innovative Volkswagen lighting technol weiter >>
Volkswagen digitalizes sales – New era of car buying to start in 2020
16.10.2018
Volkswagen fundamentally restructures its sales model – program to be launched in Europe in April 2020    Transformation in sales driven by progressive digitalization and connectivity of Volkswagen fleet    Online business to be expanded and direct sales to be possible    Customers to be targeted m weiter >>
Audi at One Young World Summit 2018: Sustainable ideas for the world of tomorrow
15.10.2018
Support for 30 young people from the automobile manufacturer and the Audi Environmental Foundation        Audi employees and scholarship holders present their ideas on education and environmental protection        Board of Management Member for Human Resources and Organization Wendelin Göbel: &ldq weiter >>
Sustainable aluminum for battery housing of Audi e-tron
12.10.2018
Audi is the first automobile manufacturer to achieve sustainability certification issued by Aluminium Stewardship Initiative (ASI)        Performance Standard Certification for material stewardship of aluminum and sustainable weiter >>
How Volkswagen brings cars to life with lighting design
12.10.2018
These days, lighting design is both functional and emotional    Leading us into tomorrow: the "extraterior" – the design of the surroundings    How vehicles of the future will use light to communicate with people weiter >>
Groupe PSA holds its third annual Booster Day
10.10.2018
... posing 12 technological challenges for the Plant of the Future •    60 partners took part in the third annual #BoosterDayPSA held at the Poissy plant in Greater Paris. Ranging from suppliers, integrators, start-ups weiter >>
Prodrive solves composites recycling challenge
08.10.2018
New process enables composites to be re-used several times and negates the need for an autoclave, significantly reducing cost and increasing production capacity  Prodrive Composites has developed a process f weiter >>
Volkswagen and Siemens make crossroads safer
04.10.2018
From classic vehicle safety to cooperative road safety    Thanks to WLANp, Car2X vehicles will be able to communicate with traffic lights in future    Precise environmental information at crossroads improves safety for all road users weiter >>
Volkswagen and Microsoft announce strategic partnership
28.09.2018
Volkswagen and Microsoft will deeply collaborate to accelerate Volkswagen’s digital transformation    Volkswagen choses Microsoft Azure platform as the foundation for Automotive Cloud and connected car services for its fleet weiter >>
Hexagon’s PI Now Provides Newly Integrated Solutions and Platforms for Autonomous Vehicle Development
27.09.2018
Acquisition of U.S.-based AutonomouStuff now completeHexagon’s Positioning Intelligence division (Hexagon PI) is pleased to welcome AutonomouStuff following the completion of the acquisition as announced by Hexagon AB. weiter >>
Groupe PSA and Punch Powertrain are negotiating terms of a Joint Venture agreement
27.09.2018
... for the Group’s future electrified transmissions •    On September 27, Groupe PSA and Punch Powertrain announce their intention to sign a joint venture agreement, named “Punch Powertrain PSA e-transmissions”, weiter >>
Volkswagen targeting further boost in factory productivity
27.09.2018
Goal of the new TRANSFORM.TOGETHER production strategy: 30 percent increase in productivity worldwide by 2025    Board Member for Production Andreas Tostmann: “Efficiency potential in Production through 2025 totals €2.6 billion”    Paradigm shift from product to process orientation to be implemented worldwide in ei weiter >>
Shaping the future of cities.
27.09.2018
Top Smart Cities Tech Accelerator URBAN-X by MINI and Urban Us Graduates Fourth Cohort Alumni Startups Hit New Funding MilestonesURBAN-X, the leading accelerator for startups reimagining city life, founded by MINI and in partnersh weiter >>
Volkswagen and US elite Stanford University develop a fuel cell for the future
27.09.2018
New triple power fuel cell catalyst developed    Significant cost reduction with simultaneous increase in performance values The fuel cell is regarded as a serious alternative to the classic electric car with battery cells. However, the biggest problem is the comparatively high cost of the technology. A partnership betwe weiter >>
Toyota to supply its Hydrogen Technology to Caetanobus SA (Portugal) Europe
26.09.2018
•    Toyota fuel cell system to be used in Caetanobus' first FCEV* city buses•    Caetanobus to launch first hydrogen demonstration city bus in autumn 2019Toyota today took another important step towards a b weiter >>
Porsche increases investment in start-ups by EUR 150 million
25.09.2018
Innovative business models in the field of mobilityAccess to the technologies and business models of the future: Porsche has increased its total investment in venture capital activities by EUR 150 million for the next five years. The obj weiter >>
Groupe Renault unveils France's first Smart Island on Belle-Île-En-Mer
21.09.2018
    Groupe Renault, Morbihan Energie, Les Cars Bleus and Enedis have joined forces to create FlexMob’île, an innovative programme aimed at accompanying the energy transition on the French island of Belle-Île-en-Mer.    This smart electric ecosystem is founded on three core activities, namely the sharing of electric weiter >>
Audi uses modular solution for virtual-reality training
21.09.2018
Apprentices from the Ingolstadt plant’s logistics department have recently started using this virtual modular principle to learn the so-called “pick-by-light” process at the training center.    Learning program for multiple sites and languages        Virtual experience of production and logistics pr weiter >>
The new ID. chassis: unveiling the world’s most innovative electric vehicle family
20.09.2018
Unique platform is designed exclusively for electric drives. It covers the entire spectrum: from compact cars to SUVs and vans    The world’s first fully connected, fully functional e-vehicle family for the mass market    Production of the ID.1 to start in 2019    Sales should climb to more than 1 weiter >>

© 2001-2017 automobilsport.com full copyright automobilsport.com