Grab Raises 2 Trillion Rupiah Funding from Yamaha Motor
Strategic partnership to develop ride hailing service in Indonesia
Prayogo Ryza - 17 December 2018
Yamaha Motor and Grab, today (12/13) announce a strategic partnership to maximize the potential of two-wheelers transportation in Indonesia. As part of the contract, Yamaha Motor is to pour $150 million (equals 2.1 trillion rupiah) investment for Grab. This is an advanced investment involving the automotive company after Hyundai and Kia Motors spent 3.5 trillion rupiah for funding.
Yamaha Motor and Grab, through this partnership, will develop a series of solutions. First, the company will use Yamaha technology to improve partner safety and motorcycle-based passenger services. Second, Yamaha will provide incentives in the form of easy purchasing for anyone interested in becoming a Grab ride-hailing partner.
"In addition to improving safety and comfort, [there will be] the new type of Yamaha Motor technology adoption as a transportation system that is more user-friendly. We also predict the mobility system improvement in the future and the creation of new mobility solutions," Takuya Kinoshita, Yamaha Motor's General Manager of Motorcycle Business Operations, said.
In order to approach the two countries' long-term vision, the collaboration will be contained with the latest technology exploration such as robotics to address issues related to the mobility system.
Ming Maa, Grab's President said the security of driver and customer partners is the most important thing for Grab. The collaboration is expected to deliver innovative solutions for ride-hailing services.
Earlier this year, Grab targeted to raise fresh funding up to $ 3 billion. Some large companies and venture capitalists have contributed, including Booking Holdings, Microsoft, Toyota, and Kasikorn Bank.
– Original article is in Indonesian, translated by Kristin Siagian