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

  • Keeping people on track is RATP’s raison d’etre
    June 14, 2018
    In Paris, RATP Group’s autonomous Metro Line 1 is carrying 750,000 people a day across the city. Ben Spencer is invited into the control room to take a look at how the system works Paris is visited by millions of tourists each year, keen to see for themselves stunning attractions such as the Eiffel Tower, Arc de Triomphe, Notre-Dame, the Louvre, the Seine and all the rest. But while the best-known sites of the City of Light tend to be on the surface, there is a lot going on below those iconic grand boule
    Read More
  • Toyota to fit selected new cars with advanced automotive safety system
    November 28, 2014
    Beginning in 2015, some of Toyota Motor Corporation's new models will be compatible with advanced vehicle-infrastructure cooperative systems that use a wireless frequency reserved for intelligent transport systems (ITS). This compatibility will be offered as an option for the Toyota Safety Sense P active safety package that will be made available in 2015 on selected new models sold in Japan. The systems will use the dedicated ITS frequency of 760 MHz for road-to-vehicle and vehicle-to-vehicle communicati
    Read More
  • US Cities push for smarter poles
    June 25, 2018
    US Cities The need to connect existing infrastructure has led various US transit authorities into imaginative alleyways: David Crawford examines some new roles for street furniture. US cities are vying with each other in developing schemes to create a new generation of connected places. Their strategies include taking advantage of their streetlight poles’ height and ubiquity to give them new roles in supporting intelligent nodes. They are now being equipped for collecting real-time data on key transport
    Read More
  • US economic stimulus package highlights ITS technology
    July 17, 2012
    US Secretary of Transportation Ray LaHood talks to ITS International about economic stimulus funding and the absolute need to maintain and increase the use of technology in transportation. Of the total of $787 billion of funding announced under the American Recovery and Reinvestment Act (ARRA), the economic stimulus package which was signed into law by US President Barack Obama on 17 February 2009, $48.1 billion will go to the US Department of Transportation (USDOT). Of that, $27.5 billion is for highway in
    Read More

Highlighted Content