Toyota Motor to invest US$1b in ride-hailing firm Grab

SINGAPORE (June 13): Toyota Motor Corp has agreed to invest US$1 billion in Southeast Asian ride-hailing firm Grab as a lead investor in the company's ongoing financing round, which was launched after it bought the regional business of Uber Technologies Inc.

The investment by Toyota is the largest-ever by an automaker in the global ride-hailing sector, the six-year old start-up said in a statement on Wednesday.