By Naomi Tajitsu
The data gives Toyota insight into fleet management as it develops services including futuristic concepts such as pay-per-use mobile restaurants.
The company is unwavered by the trade war as it rides on China’s large consumption-based economy
Alibaba said the new office was part of its effort to deepen strategic cooperation with Malaysia, where it has also established the first Electronic World Trade Platform (eWTP) hub outside China.
With a potential upsize of $592 million, the debt facility is part of the $700 million in debt financing announced by Grab last October.
Through the merger, Vinataxi and ComfortDelgro Savico Taxi will set up a new system with a fleet of 300 high-tech cars to compete with GrabTaxi.
India is now the its most important market outside the US after it sold its businesses in China and South-east Asia to local start-ups Didi Chuxing and Grab, respectively.
Didi started expanding outside Asia in Mexico earlier this year, and has said globalisation is a core strategy.
Losses, which exclude net interest income, tax and notional losses on derivatives contracts, were well over three times revenue.
This is Truecaller’s first ever acquisition in the India market. Both companies are backed by common investor Sequoia Capital.
The company had earlier said it may raise funds to strengthen its balance sheet after its losses tripled in the quarter ended March 2018.