In just 6 years, Grab has managed to attract $6 billion in funding. According to sources familiar with the matter at hand, SoftBank Group Corp is nearing a deal to invest nearly $500 million in Grab. The potential deal is part of a nearly $1 billion funding that Grab aims to tap in its latest…
The development underscores Uber CEO Dara Khosrowshahi’s strategy of strengthening and expanding Uber’s footprint through partnerships. On Thursday, Uber Technologies announced, it would be launching an app for taxis operating in Nagoya, Japan. The development comes in the wake of the U.S. firm trying to expand and strengthen its foothold in the country. Incidentally, Japan…
The wiring issue had led to a short circuit incident in Japan which produced smoke from the vehicle. On Wednesday, Toyota Motor Corp stated, it plans on recalling nearly 1.03 million vehicles from various markets including North America, Europe and Japan due to an issue with the engine wire harness which can pose a fire…
Uber technologies’ peer Grab is set to raise $2 billion in its latest funding round, with $1 billion coming from Toyota Motor Corp. On Wednesday, the Wall Street Journal reported citing sources familiar with the matter at hand as saying, ride hailing firm Grab Inc is likely to raise around $2 billion in its latest…
Given hydrogen’s availability and its weight to storage energy quotient, Toyota believes hydrogen powered fuel cells will play a significant role in the clean-energy-powered auto industry in the coming future. In a significance development, Toyota Motor Corp announced that it plans on increasing investments in its hydrogen fuel cell-based vehicles, as design more cost-effective mass-market…
This is the biggest investment to date by an automaker in the global ride-hailing sector. On Wednesday, Toyota Motor Corp stated it has agreed to invest $1 billion Grab, a Southeast Asian ride-hailing firm, as its lead investor in its current funding round which was launched after it bought Uber Technologies’ regional business. Toyota’s move…
The development is aimed at enabling Toyota to expand its line of next gen emission free vehicles. On Thursday, as part of a strategic move Toyota Motor Corp plans on building a manufacturing plant for hydrogen fuel cell stacks, a key component for next generation fuel cell vehicles. The move is part of a larger…
Sony Corp is the latest tech firm vying for market share in Japan’s highly regulated ride-hailing market and is set to partner with Daiwa Motor Transportation and 4 other domestic Japanese taxi firms for the same. On Tuesday, Japan’s Nikkei newspaper reported, Sony Corp is to become the latest tech firm which is jockeying for…
While automakers are racing to place electric vehicles by 2020, there is also a race to develop smarter, safer and cheaper battery technology that will power them. Honda Motor Co is weighing the idea of developing solid-state batteries for electric vehicles (Evs), with a growing number of automakers looking for ways to power next generation…
The move could extend Panasonic’s lead as the world’s biggest producer of lithium-ion batteries, a key component for tomorrow’s electric vehicles. On Wednesday, a joint statement by Toyota Motor Corp and Panasonic Corp said, the duo are considering a joint development of batteries for electric vehicles. The strategic move could potentially aid Panasonic maintain and…
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