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

  • AVs need to be ‘100 to 1,000 times better than humans’, says Intel
    January 14, 2019
    Autonomous vehicles (AV) need to have a robotic system which is better than a human driver, because society will not accept machines killing people, according to Intel. Speaking at the Consumer Electronics Show 2019 in Las Vegas, Intel senior vice president Amnon Shashua said AVs probably need to be 100 to 1,000 times better than the human experience - which presents the question of how to validate such a system. “When you do your calculation, the amount of data you need to collect to verify somethi
    Read More
  • Robotic Research: harnessing AV potential
    June 10, 2021
    Robotic Research is leading in AV R&D, from work with the US Army to enabling the first automated BRT line in North America: Gordon Feller assesses what the company is doing
    Read More
  • Oxa joins Sunderland AV shuttle programme
    January 20, 2025
    UK city initiative aims to show how AVs can connect people to key destinations
    Read More
  • Uber ‘disabled braking system’ in fatal crash
    May 30, 2018
    Uber had disabled the emergency braking function of the Volvo XC90 which killed a pedestrian in Tempe, Arizona in March. A preliminary report from the National Transportation Safety Board (NTSB) says the car was “operating with a self-driving system in computer control mode” when it struck 49-year-old Elaine Herzberg, who was pushing a bicycle across the road. According to the NTSB report, Uber said “emergency braking manoeuvres are not enabled while the vehicle is under computer control, to reduce the
    Read More

Highlighted Content