Toyota leads $1B investment in Uber’s self-driving tech
On Thursday, news broke that Toyota, Denso, and the SoftBank Vision Fund are investing heavily in Uber’s autonomous driving operation. Together, the three companies will put $1 billion into Uber’s Advanced Technologies Group: $667 million from Toyota and Denso, with an additional $333 million coming from SoftBank.
“Leveraging the strengths of Uber ATG’s autonomous vehicle technology and service network and the Toyota Group’s vehicle control system technology, mass-production capability, and advanced safety support systems, such as Toyota Guardian™, will enable us to commercialize safer, lower cost automated ridesharing vehicles and services,” said Shigeki Tomoyama, Toyota executive vice president and president of Toyota’s in-house Connected Company, in a statement sent to Ars.
It’s actually not the first time Toyota has opened its wallet for Uber. In August 2018, the Japanese OEM signed a $500 million deal to integrate Uber’s autonomous tech into Toyota Sienna minivans, which will operate through Uber’s ride-hailing network at some future date. That followed an earlier investment of $300 million in 2016.
Source: Ars Technica