Jan 11, 2018

Grab discloses investment from Hyundai

An Indian worker inspects parked Hyundai vehilces ready for shipment at a port in Chennai. Photo: Arun Sankar / AFP / Getty Images

Hyundai recently invested an undisclosed amount as part of Grab's most recent funding round of at least $2 billion, the Southeast Asian ride-hailing company revealed on Thursday. The companies also plan to work together on new services and integrating some of Hyundai's eco-friendly car models.

Automakers want in: Hyundai is the latest car maker to forge a close relationship with a ride-hailing firm. Two years ago, General Motors invested $500 million into Lyft, while Toyota has put money into rival Uber as well as Grab, for example.

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