Overview
- The initial $60 million minority stake is subject to regulatory approval, with closing expected in Q4 2025.
- Up to $350 million more could follow within a year after closing if milestones on U.S. city coverage, consumer revenue, technology and safety, and new approvals are met.
- Vay will issue new shares and zero-strike warrants to Grab that become exercisable upon milestone achievement over a three-year period.
- If conditions are satisfied and additional equity is purchased, Grab could gain a majority interest roughly three years after closing.
- The funding backs Vay’s U.S. expansion and potential integration with Grab’s mobility ecosystem, leveraging remote-driven EV rentals in Las Vegas and driving data that Grab says can accelerate AV AI training.