Toyota said, that would invest one billion US dollars in the Grab taxi service. The company is engaged in both taxi services and rental of vehicles.
CNN write, that Grab is engaged in activities in many Asian countries, for example, in Malaysia, Indonesia, the Philippines, Vietnam, Thailand, and Myanmar. A year ago the service announced that more than 1 million drivers registered in their program. Grab is based in Singapore. With the flow of money from Toyota, the capitalization of the taxi service will exceed more than $10 billion.
By the way, Toyota's executive director will also become a representative of the Grab board of directors.