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

  • When caring about sharing is good business for US automakers
    October 28, 2015
    Although car-sharing and ride-sharing could drastically reduce car sales, David Crawford finds some US automakers are keen to participate in the sharing economy. Growing consumer interest in car- and ride-sharing, as opposed to outright ownership, and ride-sharer Uber’s recently stated intention to make its brand competitive with ownership on cost, are making the major US automotive manufacturers think seriously about their future sales prospects. Some have already begun exploring ways of entering the field
    Read More
  • Autumn budget: EV charging infrastructure fund and higher tax rates for diesel vehicles
    November 23, 2017
    Chancellor of the Exchequer Philip Hammond has announced a £400m ($532m) charging infrastructure fund for electric vehicles (EVs), an extra £100m ($133m) investment in Plug-In-Car Grant, and a £40m ($53m) in charging R&D in the UK’s Autumn Budget 2017. He added that laws need to be clarified so that motorists who charge their EVs at work will not face a benefit-in-kind charge from next year.
    Read More
  • HMI and Transmax examine advances in traffic management, ITS and AVs
    November 14, 2017
    HMI Technologies (HMI) has partnered with Transmax to examine advances in traffic management, intelligent transport systems (ITS) and autonomous vehicles (AVs). Delivering safety and efficiencies potential of connected autonomous vehicles (CAVs) by connecting them with traffic management systems through ITS infrastructure such as beacons and radar will be a key focus of the agreement.
    Read More
  • Turning information into stories
    April 16, 2018
    IBTTA says its TollMiner tool can transform transportation planning. Here, the tolling organisation explains how it works – and what part it might play in Donald Trump’s infrastructure plan. Imagine being able to turn the black-and-white numbers in a spreadsheet into graphics and visualisations that tell a compelling story about essential transportation infrastructure. Having easy access to the solid, reliable data you need to plan surface transportation projects and assign project resources based on
    Read More

Highlighted Content