Grab Teams Up With BYD To Boost EV Availability For Southeast Asia's Driver-Partners

Grab Holdings Limited GRAB shares are trading marginally higher in the premarket session on Wednesday.

The firm has announced a regional partnership with BYD to expand access to up to 50,000 electric vehicles for Grab’s driver-partners across Southeast Asia, enhancing the availability of green vehicles for its users.

This collaboration aims to overcome the region’s key barrier to EV adoption: high upfront costs.

This partnership spans six Southeast Asian countries—Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam—and includes models like the DENZA D9, BYD ATTO3, BYD SEAL, and BYD M6.

The DENZA D9, a luxury electric vehicle, will be featured in GrabExec, setting a new standard for executive transportation with its advanced features and sustainability.

Last July, BYD announced a multi-year strategic partnership to add 100,000 new BYD electric vehicles to the Uber platform in key global markets. However, the deal with Uber focused on Europe and Latin America, with plans to expand to the Middle East, Canada, Australia, and New Zealand.

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In the latest development with Grab, BYD plans to provide Grab’s fleet and driver-partners with access to affordable BYD vehicles, including extended warranties for the vehicles’ batteries.

Drivers can choose to rent these EVs through Grab’s fleet partners or access financing options via Grab’s car ownership schemes. This partnership aligns with Grab’s sustainability goals, helping accelerate the transition to zero-emission transportation.

In countries like Singapore and Thailand, Grab users can select an “Eco-Friendly Ride” option at no extra charge, prioritizing green vehicles for their rides.

Liu Xueliang, General Manager of BYD Asia Pacific Auto Sales Division, said, “We are excited to partner with Grab as the leading on-demand transport provider in Southeast Asia and push forward the transition to electric vehicles in the region.”

Per a report by Statista, the Electric Vehicles market in Southeast Asia is expected to reach $6.798 billion by 2025. From 2025 to 2029, the market is projected to grow at a rate of 4.02% annually. By 2029, the market volume is expected to hit $7.958 billion.

The partnership will also focus on deep technological integration to enhance Grab’s services. BYD vehicles will integrate with Grab’s platform through IoT, providing real-time data on driving patterns and behaviors. This data will help improve driver safety and overall experience, with features like larger screens displaying jobs, navigation, and chats directly in the vehicle’s head unit.

The integration of real-time data, such as weather and traffic conditions, will also help improve ride reliability and route optimization, ensuring better ETA accuracy and efficient navigation.

Price Action: GRAB shares are trading higher by 2.06% to $4.45 premarket at last check Wednesday.

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