News Summary

• Vay, a German startup offering remote-controlled rental cars, will get $60 million in cash from Singaporean tech heavyweight Grab.
• The deal is subject to regulatory approval and expected to close by the end of the year.
• Vay now plans to use Grab’s investments to scale and expand its operations in the U.S.
• The two companies plan to explore synergies between Vay's and Grab's business in Southeast Asia.
• The synergies it finds with Vay may well be on the tech side — for instance, driving data collected by Vay could accelerate the training of AI models to improve autonomous driving.