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

  • Cohda partners with Sasken for V2X in connected vehicles
    June 24, 2019
    Cohda Wireless has partnered with India-based Sasken Technologies to accelerate the adoption of vehicle to everything (V2X) in connected vehicles utilising cellular or dedicated short range communication (DSRC). Cohda will combine its wireless DSRC/C-V2X stack and applications with Sasken’s telematics control unit with the stated aim of making road transport safer and smarter. Calvin Nichols, vice president at Sasken, says the partners are seeking to create a “telematics reference design” that will bene
    Read More
  • Watch your step: the sidewalk robots are here
    March 14, 2023
    The way we order and pay for goods has changed radically – but what about how those goods are delivered? Gordon Feller looks at how sidewalk robots might reshape the urban landscape
    Read More
  • UK’s Loughborough University attempts to smooth Europe’s path to C/AVs
    December 10, 2018
    Loughborough University in the UK is leading a three-year initiative which aims to assess the impact of introducing connected and autonomous vehicles (C/AVs) in Europe. The £5.7m project, called Levitate, is funded by the European Union and will help European cities to plan for the effect C/AVs will have on infrastructure and society. Levitate began this month and will consider how AVs might improve safety, congestion and the environment, while looking at key policy decisions which would maximise thei
    Read More
  • Ford targets fully autonomous vehicle in 2021
    August 17, 2016
    Ford has announced its intention to have a high-volume, fully autonomous vehicle in commercial operation in 2021. The new vehicle will be a Society of Automotive Engineers-rated level 4-capable vehicle without a steering wheel or gas and brake pedals. It is being specifically designed for commercial mobility services, such as ride sharing and ride hailing, and will be available in high volumes. SAE level 4 is one level below full automation and is defined as ‘mode-specific performance by an automated
    Read More

Highlighted Content