Japanese automotive manufacturer, Toyota Motor Corporation, announced to provide Total-care Service to Southeast Asia’s ride hailing major, Grab in Singapore
Singapore: Following an investment of USD 1 billion in the ride hailing app, Grab, Toyota Motor Corp (TMC), has decided to offer Total-care service to 1,500 Grab cars through GrabRentals. Toyota Motor Asia Pacific Pte. Ltd. (TMAP), sales and marketing headquarter of TMC in Asia, plans to roll-out the service in Singapore and both the companies aim to increase the share of Toyota vehicles in Grab fleet in Southeast region by 25 percent by 2020. In the coming years, Grab is also planning to implement Toyota Production System in order to improve its operational efficiency.
GrabTaxi Holdings Pte. Ltd. is a Singapore based ride hailing, ride sharing and food delivery service company operating across the Southeast Asia region.
The company would implement total-care service in order to enhance the platform safety with the assistance of data transmission device called TransLog. The device would collect the information and send it to the mobility service platform. The collected data will provide information regarding the maintenance of vehicles with an aim to reduce the insurance premium for the Grab drivers.
President of Grab stated that "The company is excited to work with Toyota to roll out the Total-care Service to the Grab Rental fleet. The ability to meld data analytics with vehicle maintenance will make their rental fleet even safer for driver-partners and towards achieving their goal to raise transport safety standards in the region."
According to TechSci Research, the partnership between Toyota and Grab is aimed towards increasing the number of Toyota cars in the Grab fleet. Total-care Service will enable Toyota to leverage onboard telematics data through a shared information platform and provide services such as fleet management, automotive insurance and vehicle maintenance packages, aimed at expanding the use of ride-hailing vehicles and enhance the driving experience for end users. Through this Total-care Service, ride-hailing companies can provide their driver-partners with more cost-efficient and timely maintenance services.
According to the recently published report by TechSci Research, “Asia-Pacific Ride Hailing Market , By Vehicle Type (Passenger Car & Micro Mobility Vehicle), By Internet Connectivity (3G, 4G, 5G & Wi-Fi), By Service Type, By Vehicle Connectivity, By Country, Competition Forecast & Opportunities, 2017-2023”, Asia-Pacific ride hailing market is projected to grow from $ 17.7 billion in 2017 to $ 53.8 billion by 2023, exhibiting a CAGR of over 21% during the forecast period. Rising population and increasing concerns regarding air pollution and traffic congestion in several Asian countries are the primary factors expected to boost demand for ride hailing services across the region. Moreover, growing investments by several major players in the ride hailing service, increasing internet penetration and rising demand for alternate transportation systems are some of the other key factors anticipated to have a positive impact on the region’s ride hailing market during forecast period.
With the increasing trend for car equipped with internet for safety, navigation and infotainment systems, connected cars are the preferred choice for the ride-hailing market. This offers a huge opportunity for connected cars companies, globally.
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