The Japanese automotive producer, Toyota Motor Corporation, will put the investment of USD 1 billion or IDR 13.9 trillion in 2018 in collaboration with Grab. According to PT. Toyota Motor Manufacturing Indonesia (TMMIN), they have the opportunity to mobilize their business in welcoming the development of digital and electric vehicles business in Indonesia, which will start in the year 2030.
Based on the agreement, the two parties will strengthen and expand their collaboration in the automotive sector particularly the car industry that is connected through the Toyota Mobility Service Platform. The collaboration is intended to adopt new mobility solutions in the entire Southeast Asia regions. Some of the connected services are, among others, user-based insurance, financing programs, and predictive maintenance.
The investment will also help Grab in expanding their online to offline service coverage, such as grab food and GrabPay. Through the collaboration, an executive from Toyota will be appointed as a member of the board of director of Grab. There will also be a representative from Grab who is assigned as an executive officer in Toyota.