Transportation

India-based car sharing platform Zoomcar announced Wednesday $10 million financial investment in connection with the merger with Innovative International Acquisition Corp, a United States-listed special purpose acquisition company.

The immense competition to deploy autonomous vehicles, particularly in industrialized nations, has captured the attention of public policymakers in regard to autonomous mobility and the possible impact it could have.

Singapore-based used car marketplace Carro, has launched Carro Certified, a technology-backed stamp of assurance certification for their used cars across all key markets, including Singapore, Indonesia, Malaysia, Thailand and Taiwan.

Singapore-based super app Grab Holdings Limited announced Tuesday that it is targeting to achieve breakeven on a group adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) basis by the second half of 2024, as it accelerates its path to profitability.

Singapore-based used car marketplace Carro on Tuesday announced its expansion into Japan through a joint venture with SoftBank Corporation (SoftBank). As part of its entry, CARRO JAPAN Co., Ltd. (CARRO JAPAN) aims to introduce its full suite of services, such as subscription-based services and car leasing.

The listing in the US market would be attractive given the liquidity and the diverse investor reach that it can provide, Capital A previously said.

Singapore-based online used car retailer Carro achieved profitability in its last financial year (FY2022) as its revenue more than doubled to S$650 million ($463.49 million).

Topics in the report include the latest development in the Indonesian EV market, findings on the electric 2-wheeler market and the electric 4-wheeler market, consumers’ preferences, market entry and growth strategies, among others.

Southeast Asia’s super app Grab announced Thursday that its revenue surged 79 percent year on year to a record high of $321 million, driven by strong growth in mobility and deliveries revenue, including contributions from its recently-acquired Malaysian retail chain Jaya Grocer.

Grab Philippines has announced that it has acquired motorcycle taxi firm MOVE IT’s business operations. Backed by Grab and MOVE IT’s shared commitment towards safe and reliable mobility services for everyday Filipino commuters, Grab Philippines will help MOVE IT further scale its existing motorcycle taxi fleet and improve the efficiency of its platform.