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.

Related Content

  • October 25, 2018
    Uber to implement clean air fee for all London trips
    Uber will introduce a fee of 15p per mile for all trips booked via its app in London to help its drivers purchase an electric vehicle (EV). The surcharge will be introduced in early 2019. Uber says drivers working 40 hours per week for two years could receive around £3,000 of support towards the purchase of an EV. The initiative is part of Uber’s Clean Air Plan in which the company expects to raise more than £200 million in the next few years to support the switch to electric. Uber estimates tha
    Read More
  • August 28, 2018
    Uber to redirect focus to bikes and electric scooters
    Uber intends to focus more on its electric scooter and bike business as it says individual modes of transport are better-suited to inner city travel. Dara Khosrowshahi, Uber’s CEO, believes users will make more frequent, shorter journeys in the future, the Financial Times reports. "During rush hour, it is very inefficient for a one-tonne hulk of metal to take one person ten blocks,” he says. Uber’s Jump electric bikes are now available in eight US cities such as San Francisco and Washington DC, and are
    Read More
  • February 17, 2021
    Aurora to develop ride-hailing AVs
    Group partners with Toyota to deliver affordable autonomous ride-sharing vehicles
    Read More
  • November 6, 2018
    Uber seeks to resume AV trials nearly eight months after Arizona fatality
    Uber wants to resume testing its self-driving cars on public roads nearly eight months after one of its autonomous vehicles (AV) killed a pedestrian in Arizona. The ride-hailing company has released a voluntary safety report to the US National Highway Traffic Safety Administration which includes safety enhancements to help prevent crashes and fatalities. Uber says its AVs would include two mission specialists – employees who have completed advanced training courses in self-driving vehicle operations. The
    Read More

Highlighted Content