10 Stocks Gaining Momentum From Key Collaborations

6. Grab Holdings Ltd (NASDAQ:GRAB)

Grab Holdings Ltd. is Southeast Asia’s largest ride-booking and food delivery company whereas BYD Company Limited is involved in making EVs and batteries. Grab Holdings will now be able to use BYD as its supply partner for EVs to aid in its ride-booking and food delivery business.

This partnership will provide access to 50,000 electric vehicles to Grab’s drivers in Southeast Asia. According to the partnership, Grab’s drivers will receive extended warranty on EV batteries at affordable rates. Moreover, the partnership will cover various regions including  Malaysia, Thailand, Indonesia, and Singapore. Vehicle models included in the deal include Denza D9 MPV, BYD M6, BYD Atto 3, and BYD Seal.

According to Grab executive Chuck Kim, the purpose of the deal is to make drivers better off by reducing financial barriers and making electrical vehicles a more affordable option. In the long run, the goal is to provide economic benefits to drivers by saving their fuel costs.