Toyota pumps $1 billion in Grab in auto industry's biggest ride-hailing bet
Updated : June 13, 2018 02:56 PM IST
The deal comes as the auto industry faces a spike in the need for technological prowess with the advent of features such as autonomous driving, while app makers offer passengers the option to forgo car purchases by connecting them with drivers.
Some automakers have responded by partnering with makers of ride-hailing apps which dominate the fast-growing field of mobility services, in anticipation of a future of reduced car ownership.
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