Japanese motorcycles and marine products manufacturer Yamaha Motor Co. announced that it has agreed to infuse $150 million in Singaporean ride-hailing to food delivery service company Grab and the two companies will partner on motorcycle-ride services in Southeast Asia targeting Indonesia.
Yamaha noted that the partnership will make it easier for Grab drivers to acquire motorbikes, while it intends to leverage Grab’s ride-hailing know-how in future product development.
Targeting Indonesia means Grab is boosting its push against peer Go-Jek. In June, Toyota Motor Corp. revealed that it was injecting $1 billion in Grab.
Whereas in November, South Korean automotive manufacturer Hyundai Motor Co. agreed to invest a further $250 million into the Grab and sell a fleet of electric vehicles to the ride-hailing service.