Grab to invest $60m in Vay.

Grab, a holding company that provides software application ride-hailing transport services, agreed to invest $60m in Vay, a provider of automotive-grade remote driving technology. “We believe the future of mobility in Southeast Asia will be a hybrid model that relies on the expertise of our driver-partners alongside autonomous vehicles and remote driving services. This initial investment will help accelerate Vay’s remote driving technology development and create valuable technical and operational synergies for Grab’s long-term mobility strategy. It will also support Vay’s expansion in the U.S., where they serve a growing segment of consumers who prefer not to be car owners and are looking for more flexible, affordable, mobility options,” Anthony Tan, Grab Chief Executive Officer and Co-founder.