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Honda to Collaborate with Grab Inc. for Mobility Services
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Honda Motor Co., Ltd. (HMC - Free Report) has signed a memorandum of understanding with ride-hailing platform, Grab Inc., for a possible collaboration in the field of mobility services. The two companies are planning to team up for motorcycle sharing services in Southeast Asia. Grab Inc. provides a platform for sharing automobiles and motorcycles.
The collaboration is aimed at reducing traffic congestion in urban areas. The final details of the collaboration are not certain yet. However, reportedly Honda will make an investment in Grab Inc. as part of the deal.
Due to a rising demand for mobility services, many automakers are collaborating with ride sharing service providers. In Jan 2016, General Motors Company (GM - Free Report) entered into a partnership with ride-hailing company Lyft Inc. and invested $500 million in the latter to support the growth of ridesharing service. In Oct 2016, General Motors announced that it has invested in China’s Yi Wei Xing (Beijing) Technology Co. Ltd., a leading car-sharing technology solution provider.
In Oct 2016, Toyota Motor Corporation (TM - Free Report) announced that it will establish a Mobility Services Platform (MSPF) to take advantage of the rising popularity of mobility services. The company will collaborate with various service providers, including a pilot program with U.S. car-sharing company, Getaround.
Meanwhile, Ford Motor Company (F - Free Report) signed an agreement to acquire a San Francisco-based crowd-sourced shuttle service called Chariot and teamed up with bike-sharing provider Motivate. Through the acquisition of Chariot, Ford is planning to venture into the global shuttle services business. Meanwhile, the bike-sharing service Motivate is planning to work with Ford and San Francisco city officials to add new stations and increase the number of bikes to 7,000 in the Bay Area by 2018-end.
The performance of Honda’s shares have been weak this year, reflecting the general trend of the Zacks categorized Foreign Auto Manufacturers industry. The company has recorded a decline of nearly 4.1%, while the industry's loss has been close to 2.6%.
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Honda to Collaborate with Grab Inc. for Mobility Services
Honda Motor Co., Ltd. (HMC - Free Report) has signed a memorandum of understanding with ride-hailing platform, Grab Inc., for a possible collaboration in the field of mobility services. The two companies are planning to team up for motorcycle sharing services in Southeast Asia. Grab Inc. provides a platform for sharing automobiles and motorcycles.
The collaboration is aimed at reducing traffic congestion in urban areas. The final details of the collaboration are not certain yet. However, reportedly Honda will make an investment in Grab Inc. as part of the deal.
Due to a rising demand for mobility services, many automakers are collaborating with ride sharing service providers. In Jan 2016, General Motors Company (GM - Free Report) entered into a partnership with ride-hailing company Lyft Inc. and invested $500 million in the latter to support the growth of ridesharing service. In Oct 2016, General Motors announced that it has invested in China’s Yi Wei Xing (Beijing) Technology Co. Ltd., a leading car-sharing technology solution provider.
In Oct 2016, Toyota Motor Corporation (TM - Free Report) announced that it will establish a Mobility Services Platform (MSPF) to take advantage of the rising popularity of mobility services. The company will collaborate with various service providers, including a pilot program with U.S. car-sharing company, Getaround.
Meanwhile, Ford Motor Company (F - Free Report) signed an agreement to acquire a San Francisco-based crowd-sourced shuttle service called Chariot and teamed up with bike-sharing provider Motivate. Through the acquisition of Chariot, Ford is planning to venture into the global shuttle services business. Meanwhile, the bike-sharing service Motivate is planning to work with Ford and San Francisco city officials to add new stations and increase the number of bikes to 7,000 in the Bay Area by 2018-end.
HONDA MOTOR Price
HONDA MOTOR Price | HONDA MOTOR Quote
Price Performance
The performance of Honda’s shares have been weak this year, reflecting the general trend of the Zacks categorized Foreign Auto Manufacturers industry. The company has recorded a decline of nearly 4.1%, while the industry's loss has been close to 2.6%.
Zacks Rank
Honda carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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