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Grab to Invest $60 Million in Remote Driving Startup Vay as It Eyes Autonomous Future

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Grab Holdings announced on Monday that it will invest $60 million in Vay Technology, a remote driving startup, as part of its strategy to expand into autonomous vehicle services. The news sent Grab’s shares up more than 6% in premarket trading.

The Singapore-based company said the investment aligns with its long-term vision to blend traditional ride-hailing with emerging autonomous and remote driving technologies.

“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 Grab CEO Anthony Tan.

Under the terms of the deal, Grab could invest up to $350 million more within the first year if Vay meets certain milestones — including growth in consumer revenue, expansion across U.S. cities, advancements in technology and safety standards, and additional regulatory approvals.

Vay Technology, founded in Germany and headquartered in the U.S., operates a unique “teledriving” model, where human operators remotely steer vehicles to customers, who then drive the cars themselves. The firm launched its first commercial service in Las Vegas in January 2024, marking a major step toward scalable remote mobility solutions.

Grab’s move underscores the growing race among ride-hailing giants like Uber and Lyft to integrate autonomous and semi-autonomous technologies into their fleets — a shift that could redefine the global mobility industry over the next decade.

Pony.ai Shares Fall 12% in Hong Kong Debut as Autonomous Rivals WeRide Also Slide

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China’s leading autonomous driving startup Pony.ai saw its shares drop more than 12% on Thursday in its Hong Kong debut, while rival WeRide fell nearly 13%, reflecting investor caution toward the fast-evolving self-driving sector.

Pony.ai raised HK$6.71 billion (about $860 million) and WeRide HK$2.39 billion through their initial public offerings, both of which come as Chinese tech firms increasingly seek dual listings in Hong Kong amid geopolitical uncertainty and stricter U.S. regulations.

Both Guangzhou-based firms are investing heavily in Level 4 autonomous driving — vehicles that can operate without human intervention under specific conditions. Pony.ai CEO James Peng said proceeds would help expand autonomous parking and charging infrastructure, while WeRide’s CEO Tony Xu Han said funds would support AI development and data center expansion.

The companies have already launched robotaxi services in several Chinese cities and plan to expand to new regions including the Middle East, Europe, and Singapore, though full regulatory approvals remain pending.

The listings come at a delicate time for Chinese tech firms facing mounting U.S. restrictions. A new rule effectively bans Chinese technology in connected vehicles, complicating Pony.ai and WeRide’s ambitions to partner with Uber for robotaxi operations in the U.S.

“The dual listings are about risk mitigation,” said Tu Le, managing director at Sino Auto Insights. “They acknowledge it will take significant capital — and a market outside the U.S. — for these firms to succeed.”

The weak debut mirrored declines in New York, where WeRide shares dropped 5.2% and Pony.ai fell 2% the previous day. Still, analysts said the Hong Kong listings will help both companies secure Asia-based funding and reinforce the city’s growing image as a tech hub.

Baidu Partners with Switzerland’s PostBus to Launch Apollo Go Robotaxis in Europe

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Baidu (9888.HK) announced a partnership with Switzerland’s PostBus on Wednesday to bring its Apollo Go autonomous vehicle service to the country, marking the Chinese tech giant’s first robotaxi deployment in Europe. The deal highlights Baidu’s rapid international expansion in self-driving technology amid slowing growth in its traditional advertising business.

Under the partnership, PostBus, a subsidiary of Swiss Post and one of the country’s major public transport operators, will collaborate with Baidu to introduce driverless vehicles to eastern Switzerland. The service will cover the cantons of St. Gallen, Appenzell Ausserrhoden, and Appenzell Innerrhoden, with a trial fleet set to begin testing in December 2025 and full operations expected by early 2027, according to Baidu’s statement.

The agreement follows Baidu’s recent partnerships with Lyft and Uber, under which the company will deploy thousands of its Apollo Go robotaxis across several European and international markets beginning next year. The Swiss launch signals Baidu’s ambition to become a key player in global autonomous mobility, challenging U.S. and European rivals such as Waymo, Cruise, and Mobileye.

Baidu said its Apollo Go platform now operates more than 1,000 fully driverless vehicles in 16 cities worldwide, including Dubai, Abu Dhabi, and Hong Kong. The company has positioned Apollo Go as one of the largest autonomous ride-hailing services in the world, with millions of rides completed.

As China’s economy cools, Baidu has increasingly shifted its focus toward artificial intelligence and autonomous transportation technologies to diversify its revenue. The collaboration with PostBus gives Baidu a foothold in the European market, where regulatory approval for driverless vehicles has been gradually expanding.

Industry analysts say the partnership could make Switzerland a testing ground for wider European adoption of Baidu’s robotaxi systems, blending Chinese innovation with Swiss public transport infrastructure.