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

  • Toyota invests in MaaS Global to develop integrated mobility solutions
    June 21, 2017
    Toyota Financial Services (TFS) and its insurance partner have announced a significant investment in the Finnish company MaaS Global, which was established in April 2016 to provide multi-modal transportation services.
    Read More
  • Dundee trial offers insight into delivering MaaS in smaller urban and rural areas
    March 27, 2018
    A MaaS trial in Scotland will evaluate the attraction of such services for young people living in small cities and rural areas. Colin Sowman reports. It is often said that Mobility as a Service (MaaS) is fine in big cities - but what about smaller towns and rural areas? Well, the city of Dundee in Scotland has only around 150,000 people but is set to provide some answers with its trial of NaviGoGo, a MaaS operation aimed at 16-25 year olds – be they students, working or unemployed. By population, Dundee
    Read More
  • ITSA Detroit 2018: a must-attend transportation event!
    May 24, 2018
    The 2018 ITS America Annual Meeting Detroit, from 4-7 June, is the must-attend transportation technology event in North America this year. The theme of the meeting, “Transportation 2.0,” will be weaved throughout the three days of plenary sessions, demonstrations, and exhibits. Discussions will centre around the future of transportation, intelligent mobility, and managing risk. “Changes happening today will fundamentally affect how people interact with transportation in the months and years ahead,” said Sh
    Read More
  • Denso tests advanced driving support technology on public roads
    July 17, 2014
    Denso Corporation has begun testing advanced driving support technology on a public road in Aichi Prefecture, Japan. The company is testing automated driving scenarios in a single lane and testing automatic lane changes and other driving manoeuvres. Denso’s goal is to develop technologies that reduce driver workload and assist in safe driving. Denso has previously tested this technology on its test course in Japan. Its goal with public road testing is to identify, analyse and solve real-life problems tha
    Read More

Highlighted Content