Grab Sees Promise in Autonomous Vehicles and Eventual Profits From Banks

Core Insights - The company views autonomous vehicles (AVs) as a significant growth driver and is excited about the long-term opportunities in this technology [1][2] - The company believes it is well-positioned to support the AV transition due to strong relationships with original equipment manufacturers (OEMs) and a high utilization rate in the region [2] - The company is actively engaging with regulators and is focused on upskilling driver partners as part of the AV transition strategy [3] Financial Performance - The company's fourth-quarter revenue grew by 17% year over year, with a projected growth of 19% for 2024 [4] - The company anticipates that its financial services segment will reach profitability by the second half of next year, with its digital banks expected to be profitable by the fourth quarter of next year [6] Market Opportunities - The company sees significant potential for organic growth in Southeast Asia, noting that it currently serves only 1 out of every 20 people in the region [5] - The addressable market for mobility and grocery deliveries remains largely untapped, providing ample opportunity for expansion [5]