Headlines
Singapore's Grab to invest $60 million in remote driving firm Vay
Published by Global Banking and Finance Review
Posted on November 10, 2025
2 min readLast updated: January 21, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on November 10, 2025
2 min readLast updated: January 21, 2026
Grab Holdings invests $60M in Vay Technology to advance remote driving, aiming for a hybrid mobility model in Southeast Asia.
(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 regulatory approvals for operating in additional U.S. cities.
Vay relies on "teledrivers" to steer its cars to a potential customer, who can then self-drive the vehicle.
The company in January last year launched its first commercial service in Las Vegas.
(Reporting by Zaheer Kachwala in Bengaluru; Editing by Anil D'Silva)
Remote driving refers to the technology that allows a driver to control a vehicle from a distance, often using a telecommunication system.
Autonomous vehicle technology enables cars to navigate and operate without human intervention, using sensors and artificial intelligence.
A strategic investment is a financial commitment made by a company to achieve specific business objectives, often involving partnerships or acquisitions.
Milestones in investment are specific targets or achievements that a company aims to reach, which can trigger additional funding or support.
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