Yamaha injects $150 million into Singapore’s Grab for alliance in motorcycle hailing in SE Asia
SINGAPORE, NNA - Yamaha Motor Co. is to invest $150 million in Grab Holding Inc., forming a strategic alliance in motorcycle ride-hailing services in the region, with a focus on Indonesia.
The world’s third-largest motorcycle maker will help the partnership “develop next-generation mobility services” by providing technological and motorcycle expertise safety to help Grab drivers to ride more confidently and improve user satisfaction, it said in a statement Thursday. The tie-up also aims to come up with innovations to lower barriers to buying motorbikes.
In Indonesia, Southeast Asia’s leading ride-hailing service provider is lagging far behind local rival, Go-Jek, which holds a 79 percent share of the ride-hailing service market, including food and package delivery services, according to Indonesia’s competition watchdog, KPPU.
Through the partnership, Yamaha, which has a more-than 20 percent share in Indonesia’s motorcycle market, the largest after Honda Motor Co., aims to help Singapore-based Grab to broaden its customer base in Southeast Asia’s most populous country.
The Grab app has been downloaded onto more than 125 million mobile devices, giving users access to over eight million drivers, merchants and agents across 235 cities in eight Southeast Asian nations, according to the statement.