Grab Teams Up With Global Self-Driving Firms, Eyes Future of Ride-Hailing In Southeast Asia

Grab Holdings GRAB collaborated with four autonomous technology companies from China, the U.S., and South Korea to explore self-driving solutions for its mobility and delivery services across Southeast Asia.

The Singapore ride-hailing company inked a memorandum of understanding with China’s WeRide Inc WRD and Zelos, Boston’s Motional, and South Korea’s Autonomous A2Z.

Grab said it would assess various delivery and mobility services technologies, such as shuttles, buses, and cars.

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Co-founder and CEO Anthony Tan noted autonomous vehicle technology’s impact on Southeast Asia’s transportation landscape remains largely unexplored.

Grab Holdings reported fourth-quarter fiscal 2024 revenue growth of 17% to $764.00 million, beating the consensus of $757.61 million.

EPS of $0.01 beat the consensus loss of $(0.01).

Grab projected fiscal 2025 revenue of $3.33 billion–$3.40 billion versus a consensus of $3.398 billion, implying caution around a Southeast Asian ride-hailing and food delivery market.

According to CIC, the global autonomous driving market could grow at an 80% compound annual growth rate from $93 billion in 2025 to $1.745 trillion by 2030. For China, the market could grow at 85% CAGR, reaching $639 billion by 2030.

Price Action: GRAB stock is down 9.48% at $4.15 at the last check on Monday.

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