Grab to accelerate EV rollout as fuel prices rise

A company sign at Grab's Singapore headquarters. The superapp reported resilient first quarter revenue on Tuesday, helped by strong earnings for core services. © Reuters

SINGAPORE -- Ride-hailing and food delivery group Grab has said it will accelerate the introduction of electric vehicles as higher fuel prices, driven by the Middle East crisis, increase cost pressures on its platform. The announcement came as it reported a 24% annualized rise in revenue for the January to March quarter, underscoring continued growth across its core businesses.