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

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