Toyota Plans Billion-Dollar Investment in Ride-Hailing Startup Grab

Mony
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TOKYO—Toyota Motor Corp. said Wednesday that it plans to invest $1 billion in Southeast Asian ride-hailing firm Grab Inc.

The deal is one of Toyota’s largest investments outside of its core business of making cars. Chief Executive Akio Toyoda, who has said the automotive business will be in jeopardy in a future of self-driving and shared vehicles, has pushed his company to break into new businesses to ensure its survival.

The…

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