(Reuters) -Grab Holdings will invest $60 million in remote driving firm Vay Technology, the Singaporean firm said on Monday, sending its shares up more than 6% in premarket trading. The company is trying to leverage its ride-hailing platform to tap into autonomous vehicles, which are largely seen as the future of mobility and a potential disruptive force for companies such as Grab and Uber. "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," Grab CEO Anthony Tan said. If Vay hits certain milestones, Grab said it would invest $350 million more within the first year. The milestones include consumer revenue, U.S. cities covered, technology and safety standards, and regu
Singapore's Grab to invest $60 million in remote driving firm Vay
The Sunday Guardian3 hrs ago
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