5 days ago
5
Reuters
Mon, November 10, 2025 astatine 7:05 AM CST 1 min read
(Reuters) -Grab Holdings volition put $60 cardinal successful distant driving steadfast Vay Technology, the Singaporean steadfast said on Monday, sending its shares up much than 6% in premarket trading.
The institution is trying to leverage its ride-hailing level to pat into autonomous vehicles, which are mostly seen arsenic the aboriginal of mobility and a potential disruptive unit for companies specified arsenic Grab and Uber.
"The aboriginal of mobility successful Southeast Asia volition beryllium a hybrid exemplary that relies connected the expertise of our driver-partners alongside autonomous vehicles and distant driving services," Grab CEO Anthony Tan said.
If Vay hits definite milestones, Grab said it would put $350 cardinal much wrong the archetypal year.
The milestones see user revenue, U.S. cities covered, technology and information standards, and regulatory approvals for operating in further U.S. cities.
Vay relies connected "teledrivers" to steer its cars to a imaginable customer, who tin past self-drive the vehicle.
The institution successful January past year launched its archetypal commercialized work successful Las Vegas.
(Reporting by Zaheer Kachwala successful Bengaluru; Editing by Anil D'Silva)
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