Uber's Ride-Hailing Rival Grab Gets $150 Million Investment From Yamaha
- Yamaha follows Toyota and Hyundai in betting on Grab
- The pact helps Grab take on Go-Jek in motorcycle rides
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Grab is attracting more global backers after the ride-hailing service defeated Uber Technologies Inc. in Southeast Asia. A motorcycle maker has become the latest investor.
Yamaha Motor Co. agreed to invest $150 million in Grab and the two will collaborate on motorcycle-ride services in Southeast Asia with a focus on Indonesia, the Japanese manufacturer said in a statement Thursday.