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TMAP President, Susumu Matsuda Speech
Good afternoon everyone. Thank you very much for joining us today.
Since we announced the advancement of our collaboration in June this year, both companies have been working hard to accelerate our discussion. Today, I am pleased to share with you the steady progress we have made, in the six months since our announcement.
Toyota is enhancing our efforts in the mobility service area, as we aim to transform ourselves from a car company to a mobility company. This is because, as Grab does, we believe that it is our core mission to provide "Mobility for All".
Through the collaboration with Grab, we share the same objectives. Firstly, to reduce traffic accidents and provide safer mobility services with peace of mind to Grab drivers and users across Southeast Asia. Secondly, we want to support the sustainable growth of Grab's business through enhancing efficiency and quality of their operations, as well as reducing cost.
To achieve these goals, we are collaborating with Grab and leveraging our competitive advantages, such as the #toyota Production System and technologies in vehicle connectivity.
The project was carried out with a strong support from #toyota Motor Corporation Japan including professionals on #toyota Production System, a system steeped in the philosophy of eliminating inefficiencies. We received a strong on-site support from the team and deep discussions were held with them.
For a start, #toyota will start offering what we call "Total-care Service" to Grab.
This is a service in which Toyota's dealers and ride-hailing businesses such as Grab will use shared vehicle data on a common information platform, to provide various ride-hailing-related services such as fleet management, #automotive insurance and vehicle maintenance.
We will be offering this "Total-care Service," for the first time anywhere in the world, to 1,500 vehicles owned by Grab Rentals in Singapore.
Let me discuss details of the Total-care Service.
The core of the service is Toyota's Mobility Services Platform, or MSPF, an information infrastructure for vehicle connectivity developed by #toyota. With MSPF, vehicle data from TransLog, Toyota's in-vehicle data transmission drive recorder, is shared with Grab, which enables them to provide its driver-partners with support and advice for safety as needed.
Let me explain how it's translated in reality.
Toyota's TransLog detects abnormality based on the vehicle data. Such vehicles are listed at the Grab operation center. And when a vehicle is selected, details are shown. By combining TransLog's sensors with the video footage, Grab can determine what form of support to render to the driver, and hence improve its safety and accident management tremendously.
Another case is to advise drivers based on their driving behaviors as TransLog can obtain vehicle information. We would like Grab to leverage our technologies to offer their drivers and users safer rides with peace of mind when using Grab.
As for #automotive insurance, Aioi Nissei Dowa Insurance is already offering driving-data-based #automotive insurance in Singapore. Under this policy, based on driving data collected by Toyota's TransLog, driving behavior can influence the cost of insurance.
With this insurance, we will be able to encourage safer driving, resulting in insurance cost reduction for Grab.
Vehicle maintenance is also essential as it is reported that ride-hailing vehicles use around five times more mileage than privately-owned vehicles.
Hence these vehicles require maintenance more frequently.
Therefore, it is critical to keep these vehicles in a safe condition through timely and high-quality maintenance. It is also important to minimize vehicle downtime by enhancing maintenance efficiency. That is why we are working to use data on driving patterns and vehicle health for optimizing maintenance schedule and reducing vehicle downtime. For details, take a look at the video.
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