One of the largest car manufacturers in the world, Honda, is teaming up with Cruise Automation on self-driving cars. Cruise Automation is the self-driving subsidiary of General Motors. The two companies will collaborate on a purpose-built self-driving car that can be useful in many different scenarios and will be easy to produce at scale for a global release. Honda is contributing $2.75 billion for this project.
If you have ever been to Southeast Asia over the past couple of years then you would have heard about Grab. It’s the leading ride-hailing service in the region, one that gave Uber a tough time and eventually caused it to exit the market. Grab has now received a vote of confidence from Toyota in the form of a $1 billion capital injection as part of its latest funding round.
Grab is raising a new round of funding which is led by Toyota’s contribution of $1 billion. The deal values Grab at $10 billion, according to reports.