Toyota Grab Car

Gibson, Dunn & Crutcher is representing Toyota Motor Corp. on a $1 billion investment in the Southeast Asian ride-hailing app Grab Holdings Inc.

The deal, the largest-ever investment in the ride-hailing sector globally by an automaker, will see one Toyota executive appointed to Grab’s board of directors and a dedicated Toyota team member seconded to Grab as an executive officer, according to the Japanese company.

Both companies will further collaboration on data sharing technology to improve efficiency in ride-sharing. For example, more Grab vehicles will install Toyota’s data-transmission driving recorder and share information with other Grab rental cars throughout Southeast Asia. The two companies started cooperating in August 2017.

Gibson Dunn Los Angeles partner Keith Biancamano and Singapore partner Saptak Santra are leading a team advising Toyota.

Hughes Hubbard & Reed New York partner Kenneth Lefkowitz is acting for regular client Grab. In March, Lefkowitz also represented the Singapore-based company on its acquisition of Uber Technologies Inc.’s Southeast Asian businesses. He also advised on Grab’s $2.5 billion funding round last year from SoftBank Group Corp. and China’s Didi Chuxing.

Grab said Toyota’s investment is part of an ongoing financing round following its merger with Uber in the region. Toyota has been an investor in Uber and has been discussing the development of self-driving car technology with the U.S.-based company. Singapore-based Grab said it facilitates 6 million rides per day in 217 cities in eight Southeast Asian countries.