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Toyota Invests $500 Million USD into Uber

Toyota Invests $500 Million USD into Uber

Toyota and Uber and joining forces, with the Japanese carmaker investing a significant amount into the ridesharing company. The $500 million USD investment is part of a deal that sees Toyota Sienna minivans equipped with Uber’s self-driving technology and then used on Uber’s service. The scheme would begin in pilot form in 2021 and is the first deal of its kind for Uber. The Wall Street Journal reports that CEO Dara Khosrowshahi said in a statement that ”Uber’s advanced technology and Toyota’s commitment to safety and its renowned manufacturing prowess make this partnership a natural fit. I look forward to seeing what our teams accomplish together.” The scheme will officially be called the “Autono-MaaS” service, a shortened version of autonomous mobility. In related news, Japan has enlisted Boeing, Airbus and Uber to develop flying cars.