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    Toyota Agrees To Invest 500 Million USD In Uber For Automated Technologies

    by Swati Sanchayi on Thursday, Aug 30 2018

    Main

    Toyota Motor Corporation (TMC) and Uber Technologies, Inc. (Uber) has announced their collaboration in order to expand with the aim of advancing and bringing to market autonomous ride-sharing as a mobility service at scale. Toyota is investing $500 million in Uber and technology from each company will be integrated into purpose-built Toyota vehicles to be deployed on Uber's ride-sharing network to accomplish the goal.

    Talking about the investment, Shigeki Tomoyama, executive vice president, TMC, and president, Toyota Connected Company said, "Combining efforts with Uber, one of the predominant global ride-sharing and automated driving R&D companies, could further advance future mobility. This agreement and investment marks an important milestone in our transformation to a mobility company as we help provide a path for safe and secure expansion of mobility services like ride-sharing that includes Toyota vehicles and technologies."

    However, this partnership will be critical in realizing self-driving technology at scale as both the companies look ahead to a self-driving future. Also, Uber and Toyota both anticipate that the mass-produced autonomous vehicles will be owned and operated by mutually agreed upon third party autonomous fleet operators.  As part of an agreement, both the companies would work on autonomous cars aimed at improving safety and lowering transportation costs.


    ABOUT THE AUTHOR

    A diverse bilingual (English and Hindi) Copywriter and Content Creator based in New Delhi, India. With a degree in Journalism, I always had an inclination towards writing.

    As a writer, I have worked on content related to automobile, technology, travel, lifestyle, photography and many more.

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