Grab and Toyota Launch Data Collaboration Initiative for Connected Car Servicesby Fintech News Singapore August 30, 2017
Grab announced the launch of a new data-focused pilot programme with Toyota Motor Corporation, Toyota Financial Services Corporation, and Aioi Nissay Dowa Insurance Co., Ltd.
The project aims to use data analysis to enable Grab to offer its driver partners across the region improved access to connected car services that will improve their experience on the Grab platform.
As part of the initiative, Grab will share data on driving patterns from 100 Toyota cars in Grab’s fleet, captured by Toyota’s data-transmission driving recorder, TransLog. Toyota’s team will then analyse the data set and, based on this analysis, offer recommendations on how other connected car services on the Toyota Mobility Service Platform (MSPF) – such as user-based insurance, financing program, and predictive maintenance – could enhance the Grab experience for drivers on the Grab platform.
Grab is by far the #1 on-demand transportation platform in Southeast Asia with a market share of 95% in third-party taxi-hailing and 72% in private vehicle hailing. Today, Grab operates the largest transportation network in Southeast Asia and is one of the most frequently used mobile platforms in the region with nearly 3 million daily rides.
Grab offers the widest range of on-demand transportation services in the most markets in Southeast Asia, with more than 55 million app downloads and over 1.2 million drivers in 87 cities across 7 countries.
Anthony Tan, Grab’s CEO and Co-Founder, said,
“Toyota is a global leader in the automotive sector, and one of the most popular brands with drivers on our platform. We are confident this collaboration will benefit our driver partners and help them serve our passengers better.”
“Through this collaboration with Grab, we would like to explore new ways of delivering secure, convenient and attractive mobility services to our fleet customers in Southeast Asia,”
said Shigeki Tomoyama, Senior Managing Officer of Toyota Motor Corporation and President of the Connected Company.
Grab also annoucned that Toyota Tsusho Corporation (“Toyota Tsusho”), the sole general trading company of Toyota Group, has invested in Grab. Toyota Tsusho made this investment through its Next Technology Fund, and is the latest participant in Grab’s current financing round, led by SoftBank and Didi Chuxing.