Toyota and partners invest in Uber’s self-driving EVs

Toyota Motor, Denso and the Softbank Vision Fund (SVF) will invest $1billion in Uber Advanced Technologies to accelerate the development of automated ride-sharing services. Under the current terms, Toyota and Denso will invest $667 million and SVF will put in $33m. Dara Khosrowshahi, CEO of Uber, says: “The development of automated driving technology will transform transportation as we know it, making our streets safer and our cities more livable.”
April 24, 2019 Read time: 1 min

1686 Toyota Motor, 8837 Denso and the Softbank Vision Fund (SVF) will invest $1billion in 8336 Uber Advanced Technologies to accelerate the development of automated ride-sharing services.

Under the current terms, Toyota and Denso will invest $667 million and SVF will put in $33m.

Dara Khosrowshahi, CEO of Uber, says: “The development of automated driving technology will transform transportation as we know it, making our streets safer and our cities more livable.”

Additionally, Toyota is to provide an additional $300 million over three years to cover the costs of developing AV hardware and commercialising autonomous ride-sharing vehicles and services.

Shigeki Tomoyama, president of Toyota’s in-house connected company, says the partnership will combine Uber’s AV technology and service network with Toyota’s vehicle control system technology and safety support systems.

For more information on companies in this article

Related Content

  • Demonstration zone launched to develop connected and automated vehicles, Canada
    November 10, 2017
    A new autonomous vehicle (AV) demonstration zone has launched to allow researchers to hone the technology and test AVs in a range of everyday, real-life traffic scenarios in Ontario, Canada. Called the Autonomous Vehicle Innovation Network (AVIN), the Canadian government has invested $80 million (£61 million) over a five-year period in support of the project.
    Read More
  • Detroit pilots new data standard for dockless mobility
    November 16, 2018
    Several organisations are coming together in Detroit, US, to pilot a new tool to analyse mobility data for dockless bikes and scooters. The aim is to allow urban authorities which work with dockless mobility providers to share and analyse trip data, including trip origins and destinations, neighbourhood availability, travel times and usage. This should give them the chance to allocate street space to sustainable transportation, improve safety and provide more equal access to transport services. Detroit M
    Read More
  • Toyota and SoftBank to launch joint venture for mobility services in Japan
    October 15, 2018
    Toyota Motor and Softbank will launch a Mobility as a Service (MaaS) business in Japan by April 2019. Called Monet Technologies, the company will combine Toyota's mobility services platform and information infrastructure for connected vehicles with Softbank's Internet of Things platform. Initially, Monet intends to deploy an on-demand transportation service as well as corporate shuttles. By the second half of the 2020s, Monet says it will launch an autonomous MaaS fleet using Toyota’s battery-ele
    Read More
  • Uber granted London licence for just two months
    September 25, 2019
    Transport for London (TfL) has issued Uber London with just a two-month private hire operator licence. The ride-hailing company’s previous 15-month licence – awarded by a court on appeal after TfL originally decided not to grant one - expires tonight (25 September). Two years ago, TfL declared that Uber was not ‘fit and proper’ to hold a licence – before the court intervened. At the time, Uber chief executive Dara Khosrowshahi admitted the company was ‘far from perfect’. TfL now says it will be req
    Read More

Highlighted Content