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Grab & # 39; s mobility arm GrabWheels announced today (February 13) that the Taiwanese electric vehicle company KYMCO has received $ 30 million as part of its ongoing Series A round.
With this investment, both companies will jointly develop and use solutions for two-wheeled electric vehicles (EV) to drive acceptance in Southeast Asia.
In particular, the EVs refer to KYMCO's Ionex electric bikes and Ionex EV charging platforms. These are being introduced in Southeast Asian cities where Grab works.
The partnership also includes a research study in which GrabWheels and KYMCO investigate how best to develop a shared two-wheel EV service, build a charging infrastructure, and ensure that KYMCO EVs meet license requirements across the region fulfill.
By gaining insights into better operationalization and expansion of fleets of electric vehicles, Grab can work with governments to develop strategies to make electric vehicles more affordable, thereby encouraging driver partners and fleet owners to introduce electric vehicles.
“We are proud to work with KYMCO to invest in and accelerate the launch and infrastructure of electric vehicles in Southeast Asia. This joint effort also underlines our commitment to working with strategic partners and local governments to create a safer, greener transportation network, ”said Chris Yeo, Head of Grab Ventures and New Platform Business.
"We are grateful for the support and conviction of KYMCO in our business strategy and market position to offer our users more mobility services."
Selected image source: Land Transport Guru
