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.
According to TechSci Research Report, “Global
Connected Car Device Market, By Vehicle Type (Passenger Cars and
Commercial Vehicle), By Communication Type (V2V, V2I, V2P), By Product Type
(Das, Telematics), By Company and By Geography, Forecast & Opportunities,
2022”, the
global connected car devices market is projected to surpass $ 74 billion by
2022, exhibiting a CAGR of 20% during the forecast period, on account of
increasing demand for connected car devices owing to rapidly evolving policy
and regulatory framework supported by rising safety concerns. Growth in the
market is also anticipated on the back of technological developments and
increasing demand for incorporation of smart features in vehicles. Moreover,
huge investments by major companies in connected car device technologies are
anticipated to aid the global connected car devices market over the coming
years.
As per another TechSci Research report, “Global
Ride Hailing Market, By Vehicle Type (Passenger Cars, etc.), By
Service Type (E-hailing, etc.), By Internet Connectivity (3G, etc.), By Vehicle
Connectivity (V2V, V2I, etc.), By Company and By Geography, Forecast &
Opportunities, 2017-2023”,
the global ride hailing market is projected to grow at a CAGR of 21% to reach
$136 billion by 2023, on the back of growing popularity of ride hailing
services as well as the service providers such as Uber, Didi and Lyft.
Moreover, surging demand for ride hailing services on a global level can be
attributed to ease of booking, enhanced passenger comfort, increasing traffic
congestion, rising government initiatives aimed at increasing awareness
regarding the harmful effects of air pollution levels and development of
semi-autonomous and autonomous vehicles. Increasing number of partnerships
between domestic and international service providers, such as Uber and Didi in
China, are also expected to aid the global ride hailing market during the
forecast period.
Get more reports for this
industry at AUTOMOTIVE
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