One of the best automobile companies Honda Motors has decided to invest into the moving investment by Singapore oriented service Grab Taxi. Grab Taxi is a popular ride-sharing cab that takes people to take a ride into the entire city. Through this step, Honda has initiated a movement to invest an unrevealed amount of money in such an innovative business named Grab Taxi Holdings Pte Ltd.
This deal of Honda took only two weeks after Grab amounted to make a knot between Honda Motors and GrabTaxi. The credit of quick and fast action of the investment goes to the new president of GrabTaxi, Ming Maa.
Honda announced and entered into the business of Grab Taxi after six months of Toyota’s announcement which states its share of investment in Uber. The motive of the organization is to help the rest Uber drivers to have an app-based ride service.
This investment of Honda in Grab Taxi extremely helped the Singapore-based company to organize a good motorcycle- call over service in the Southeast Asia. This service particularly focuses in and around the area of Indonesia. The ride-sharing service expects a tremendous growth in the profit of the shares by 2025. At present, the company declares a sum of $800 million in its pocket which are favorable to reach $5.6 billion by the end of 2025.
The venture of the company agrees to claim its name ‘Honda’ to be the world’s largest manufacturer in the world of the motorcycle market.
The regional manager of Asia Pacific at Uber and Latin America, Andrew MacDonald made a statement regarding the business in a current interview which states “Our UberMotor product is a much bigger part of our business in [Indonesia] than it is anywhere in the world”.
Uber now has more resources to deploy in Southeast Asia and India after its China operations merged with China’s ride-hailing giant Didi Chuxing Technology Co.
In Indonesia Mr. MacDonald also mentions “We’ve always been focused on winning in Southeast Asia. China was expensive for both of us and our competitors”. Also, Uber also faces competition from homegrown ride-hailing behemoth Go-Jek, which says it has 250,000 motorcycle and car drivers nationwide.
Mr. MacDonald marked his words as “With Honda, the world’s largest motorcycle manufacturer, Grab expects to work a number of initiatives to enhance GrabBike, its motorcycle-hailing service”.
So, it was elaborated news coverage on a new collaboration of Honda motors with GrabTaxi. They are expecting a huge height into their future plans along with an improved technical support by the manufacturing companies. GrabTaxi plus Honda Motors has planned for a fantastic renovation in the transportation system of Indonesia. This is expected to raise job opportunities for Uber drivers and also to make an effortlessness transportation system in the entire roads of the decided areas and places on the Nation.