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