>> Hyundai now backing one of Uber's fiercest Asian rivals. The South Korean car maker said Thursday, it's investing in Grab, a ride hailing app that says that it's the biggest player in Southeast Asia. The two didn't say how much money Hyundai will pour into the company but Grab will get a helping hand, rolling out services using some of Hyundai's eco-friendly cars.
The app's latest round of fundraising had other big names, Didi Chuxing in China and from Japan, SoftBank, the same investor that will snap up a big stake in Uber early this year. Hyundai's interests in Southeast Asia is a knock on effect from political tension between China and South Korea last year, caused by Seoul's deployment of the US anti-missiles system.
The diplomatic friction hurts South Korean firms that rely on the Chinese Market. Hyundai also said earlier this month it will team up with Silicon Valley startup, Aurora, to work on self-driving cars, a shift away from its usual habit of making new tech by itself.