Grab Holdings, Southeast Asia’s largest passenger transport and delivery service provider, has announced it is investing US$60 million in Vay.
It is an emerging service specializing in tele-driving technology.
This investment adds to Grab’s growing portfolio of bets in self-driving vehicle technologies.
Funding could rise to $410 million
The two companies explained in a joint statement that the initial funding,
which is subject to regulatory approval,
It could rise to US$410 million within one year of the initial investment.
Provided that “Vay” achieves specific agreed-upon goals.
The deal is expected to be completed in the last quarter of this year.
The service “Vay”, which is based in Berlin and Las Vegas,
It offers a unique business model that combines a human-driven taxi
with a self-driving car: the user requests a car
A remote operator starts the vehicle and delivers it to the customer’s location.
Once it arrives, the customer takes over driving the car himself to his destination.
“Vay” will use these funds to expand its operations in the United States,
while strengthening “Grab” mobility offerings.
“Grab” is betting heavily on the self-reliant future
Grab investment in Vay adds to a series of similar investments
the company has made recently in preparation for the future of driverless mobility:
Grab has invested an undisclosed amount in My Mobility,
a US-based developer of self-driving technologies.
In August, the company announced plans to invest in the Chinese company “Wearide”,
The robotic taxi operator aims to provide self-driving rides throughout Southeast Asia.
These steps reflect a general trend in the ride-sharing sector,
where global companies such as Uber Technologies and Lyft are collaborating.
With technology providers and fleet operators preparing
for the stage where driverless travel becomes the norm.
