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

  • Chicago mayor unveils Vision Zero Action Plan
    June 13, 2017
    Chicago Mayor Emanuel has announced the city’s Vision Zero Chicago Action Plan, a multi-Agency approach which aims to improve traffic safety for all road users. The ultimate goal of Vision Zero is to reduce roadway crashes and eliminate traffic fatalities and serious injuries in Chicago by 2026. A dozen City departments and agencies have been working for months with traffic safety stakeholders to develop the Vision Zero Action plan, which covers the first three years of the effort and is based on the princi
    Read More
  • Strike action prompts commuters to try something different
    June 2, 2014
    David Crawford highlights responses to transit disruption on both sides of the Atlantic. Shortly before workers at San Francisco Bay Area Rapid Transit (BART) began a lengthy round of pay and conditions-related strikes in summer 2013, impacting on the daily lives of 400,000 communities, online ridesharing group Avego publicised a new web address: bartstrike.com. By the start of the following week, Avego was encouraging stranded commuters to download its smartphone app by offering them the chance in a raffle
    Read More
  • LAMetro and Via launch ride-sharing service at three metro stations
    February 8, 2019
    The Los Angeles County Metropolitan Transportation Authority (LAMetro) has partnered with Via to offer a ride-sharing service to and from three metro stations. The one-year pilot, supported by a $1.3 million grant from the Federal Transit Administration, is being trialled at Artesia, El Monte and North Hollywood. Daniel Ramot, CEO and co-founder of Via, says the company’s passenger matching and vehicle routing algorithm will connect customers with the three transit hubs in their communities. Rid
    Read More
  • Nissan, NASA to develop autonomous cars
    January 12, 2015
    Nissan Motor Company, through its North American-based organisation, and NASA have announced the formation of a five-year research and development partnership to advance autonomous vehicle systems and prepare for commercial application of the technology. Researchers from Nissan's US Silicon Valley research centre and NASA's Ames research centre will focus on autonomous drive systems, human-machine interface solutions, network-enabled applications, and software analysis and verification, all involving sop
    Read More

Highlighted Content