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Go-jek Receives Backing From Mitsubishi Companies - Nikkei Asian Review

by asia.nikkei.com posted 1week ago 12 views
JAKARTA -- Indonesian ride-hailing company Go-Jek announced Monday it received investments from three companies under Japan's Mitsubishi group, giving it further ammunition in its battle with Singapore-based Grab for dominance in the Southeast Asian market. Shares in U.S. peers Uber Technologies and Lyft may have flopped upon listing recently, but Southeast Asia still remains an attractive investment for global companies, as they aim to tap into the region's growing web-based economy. Mitsubishi Motors, Mitsubishi Corp., and Mitsubishi UFJ Lease & Finance have all taken a stake in the Indonesian startup, although the value of the deal was undisclosed.

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