South Korean automaker Hyundai is linking up with Grab, Uber's Southeast Asian ride hailing rival and mobile payments platform, to help expand the auto manufacturer's future mobility services in Southeast Asia.
Under the partnership with Hyundai, Grab has raised more than $2.5 billion in its latest round of fundraising, which also includes Didi Chuxing, Softbank and Toyota Tsusho. Grab now offers private auto, motorbike, taxi, and carpooling services across 8 countries and 168 cities in Southeast Asia. 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.
Uber doesn't provide comparative figures for its business in Southeast Asia, but Grab appears - at this point - to be ahead in a region that is widely seen as nascent but with growth potential. The firm also launched its first electric auto sharing services in Holland starting with hundred IONIQ electric vehicle service operations.
The partnership will help Hyundai explore new opportunities in the sharing economy with Grab and enhance its capability to lead future mobility in SEA.
Elsewhere in Asia, China's Baidu has reportedly developed its own self-driving Apollo platform that has been undergoing testing in cars on public roads since late past year.