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

  • BMW and Toyota to strengthen collaboration
    July 3, 2012
    Akio Toyoda, president of Toyota Motor Corporation (TMC), and Norbert Reithofer, chairman of the BMW, have announced the planned expansion of their existing cooperation initiated in December last year. The two companies signed a memorandum of understanding (MoU) aimed at a long-term strategic collaboration in four fields: joint development of a fuel cell system, joint development of architecture and components for a future sports vehicle, collaboration on powertrain electrification and joint research and de
    Read More
  • Future for connected cars ‘looks promising, but obstacles remain’
    October 19, 2016
    A new report released today by The Economist Intelligence Unit (The EIU) highlights that the huge investment already going into research and development for connected vehicles is reaping rewards. However, several obstacles still remain – from privacy and security concerns, to a lack of infrastructure, the need for a legislative framework, issues around congestion and pollution and the very real threat from on-demand transport disruptors such as Uber and Lyft. Matt Kendall, telecoms analyst at The EIU, sa
    Read More
  • EasyMile participates in Colorado AV trial
    August 16, 2021
    AvCo partners include Stantec Generation AV, Panasonic and CDoT
    Read More
  • Uber helicopter service set for Manhattan
    June 12, 2019
    Uber is to launch a helicopter service in New York City which is expected to offer flights from Lower Manhattan to Kennedy International Airport in eight minutes. A New York Times report says the average flight on the Uber Copter will cost $200-225 per person and include ground transportation on both ends of the trip. Eric Allison, head of Uber Elevate - the ride-hailing firm’s aerial division - says: “Our plan is to eventually roll out Uber Copter to more Uber customers and to other cities, but we want
    Read More

Highlighted Content