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

  • Ride sharing services increase traffic, says Schaller Consulting
    August 1, 2018
    Ride sharing services such as Uber and Lyft, also called transportation network companies (TNC), are increasing congestion in US cities, says Schaller Consulting. The transport consultancy’s latest report reveals TNCs add 2.6 new vehicle miles on the road for each mile of personal driving removed, increasing driving on city streets by 160%. Called The New Automobility: Lyft, Uber and the Future of American Cities, the document combines research and data from a national travel survey to create a detailed
    Read More
  • ITSA & IBTTA applaud Infrastructure Act
    November 11, 2021
    $1 trillion legislation is hailed as 'essential step' in modernising US roads and bridges
    Read More
  • Uber suspends Barcelona service after new regulations introduced
    February 5, 2019
    Taxi-hailing giant Uber is suspending its service in the Spanish city of Barcelona. The move comes after new regulations were passed by local authorities, according to Reuters. The company started its UberX service in the city last year. But from now on, passengers using ride-hailing services will have to wait at least 15 minutes after booking a ride before they can be picked up – thus negating one of the key selling points of companies such as Uber. Speed and convenience – as well as cost – are w
    Read More
  • MaaS Market London: transport revolution
    June 11, 2019
    ITS International’s third MaaS Market conference in London provoked lively discussions about micromobility, AVs, the stupidity of car drivers - and Star Trek. Adam Hill was taking notes…
    Read More

Highlighted Content