SINGAPORE, Feb. 26 (GeokHub) — Southeast Asia’s leading ride-hailing and delivery company, Grab, is leveraging artificial intelligence and expanding new services—including online groceries and financial products—to target tripling its profits by 2028, President and Chief Operating Officer Alex Hungate told Reuters.
Grab aims to grow revenue by over 20% annually and raise EBITDA to $1.5 billion by 2028 from last year’s levels. The company is focusing on efficiency gains in its main app and delivery network, bundling mobility, food, grocery, and financial services to reduce costs while increasing customer engagement.
Hungate emphasized that AI will play a central role, with automated agents designed to enhance loyalty for drivers and merchants. Although Grab works with foundational model providers like OpenAI, it plans to develop proprietary AI agents rather than relying on third-party chatbots such as ChatGPT.
The company operates in more than 900 cities across Southeast Asia and is exploring selective international expansions, including its acquisition of U.S.-based wealth platform Stash. Despite speculation, Grab currently has no plans for a second listing or a merger with Indonesian rival GoTo.
“Grab’s first and best use of cash is reinvesting in Southeast Asia to drive organic growth,” Hungate said, noting that careful investments in AI and autonomous vehicle partnerships will support long-term profitability.
