Grab is expanding its presence in the autonomous and remote driving space by investing in Vay.
The Singapore-based superapp has signed definitive agreements to invest $60 million in cash in Berlin-based Vay, a remote driving technology provider. Once the deal closes, Grab will have a minority stake in Vay.
The companies said the deal is subject to regulatory approvals but expected to close this quarter. Within a year of closing, pending “financial and operating milestones, regulatory approvals and other conditions,” Grab will up its investment by $350 million.
Earlier this year, Grab announced partnerships with May Mobility and WeRide to launch autonomous services across Southeast Asia.
The company said its latest investment will support Vay’s expansion in the U.S., and Grab will also look into how it may work within its “suite of mobility services in Southeast Asia.” Unlike standard robotaxis, Vay vehicles are only operated by remote drivers before and after rental periods.
Customers use Vay’s app to request electric vehicles that are driven remotely and delivered to the customer’s location. The remote driver then disconnects from the vehicle and allows the users to take over and drive normally. After the customer arrives and exits the vehicle, the remote driver resumes control. According to Vay, this allows the company to serve more customers and lower service costs.
However, Vay said it plans to add autonomous driving functionalities “based on its high-quality remote driving data.”
“We believe 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,” said Anthony Tan, co-founder and CEO of Grab.
“This initial investment will help accelerate Vay’s remote driving technology development and create valuable technical and operational synergies for Grab’s long-term mobility strategy. It will also support Vay’s expansion in the U.S., where they serve a growing segment of consumers who prefer not to be car owners and are looking for more flexible, affordable mobility options.”