Toyota Investing $500M in Uber for Autonomous Ride-Sharing Fleet
Aug. 28, 2018
Toyota is investing $500 million investment in ride-hailing giant Uber in a bid to accelerate autonomous ride sharing.
August 28, 2018—Toyota is investing $500 million investment in ride-hailing giant Uber in a bid to accelerate autonomous ride-sharing, reported CNBC.
The investment values Uber, one of the world's most valuable privately held companies, at $72 billion, according to a report in the Wall Street Journal. That's a significant jump from Uber's most recently stated valuation of $62 billion, based on a self-reported tender offer at the end of the first quarter.
According to CNBC, the companies will incorporate self-driving technology into vehicles based on Toyota's Sienna minivans, and the companies plan to begin piloting the program in 2021, they said. Toyota has dubbed the platform "Autono-MaaS," standing for "autonomous mobility as a service."
We arm you with products that build trust, tools that unlock productivity, and training that drives business performance, so you feel confident in where your...
Connect with Valvoline experts to increase operational efficiency and customer loyalty – from Valvoline-funded promotions to hands-on training, we’re here to...
