SEOUL (Jan 11): South Korea's automaker Hyundai Motor Company and ride-hailing app Grab has struck a partnership to expand future mobility services in Southeast Asia.

The strategic partnership will help Hyundai explore new opportunities in the sharing economy and develop future mobility solutions in one of the world's fastest-growing markets, Southeast Asia.

The two companies will jointly explore ways to develop and provide innovative services to Southeast Asian customers, including a new mobility service platform that will utilise Hyundai's eco-friendly models such as the Ioniq Electric.

"As we move into the next stage of Grab's growth, we look forward to collaborating closely with Hyundai to continue innovating new mobility solutions for Southeast Asia," says Anthony Tan, group CEO and co-founder of Grab.

Grab's latest and largest US$2.5 billion Series G fundraising round last July saw significant investors like Didi Chuxing, SoftBank and Toyota Tsusho participating in the funding together with Hyundai.