Analysts Identify 10 Least Risky Internet Stocks To Invest In

7. Grab Holdings Limited (NASDAQ:GRAB)

Grab Holdings Limited is a superapps provider in Indonesia, Singapore, Vietnam, Malaysia, the Philippines, Thailand, Cambodia, and Myanmar. The company operates in Mobility, Deliveries, Financial Services, and Other segments. It also offers banking and digital services.

At the start of this year, the company signed an electric vehicle supply partnership with BYD Company Limited. This collaboration will provide the firm driver and fleet partners throughout Southeast Asia. It will also provide Grab drivers access to up to 50,000 BYD Company’s electric vehicles at discounted rates. With this partnership, the ride-hailing giant will get an extended warranty on the EV batteries.

Executive Chuck Kim of Grab Holdings highlighted the potential benefits of this partnership by saying:

“This collaboration enables us to drive the transition to EVs forward by lowering the financial barriers that are often associated with EVs, and in the long run, deliver economic benefits to our driver-partners, which may include fuel cost savings.”

Recently, the firm received a license to operate as a street-hail taxi service in Singapore. With this move, Grab became the sixth taxi operator in the country. Morgan Stanley views this development as beneficial and has an Overweight rating on the stock. Morgan Stanley analyst Divya Gangahar Kothiyal is also optimistic on the company’s ability to deliver:

“We expect Grab to be able to ramp up its taxi fleet to the minimum requirement of 800 over the next 1–2 years.”