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."

Sponsored Recommendations

Free Resources for Shops Like Yours

View insights, research and solutions curated specifically for shops like yours.

Restore & Protect: The Powerful Revenue and Profit Accelerator for Your Business

Restore & Protect is a major business opportunity for Valvoline installers with positive impact on profit growth as well as customer satisfaction and loyalty.

Deliver a First-Class Guest Experience

Our dedicated Valvoline Trusted Advisor Sales and Support Team provides hands-on classroom and targeted in-store coaching to help your employees become more skilled at selling...

Promote Growth on Two Fronts: Existing and New Customers

Increase Sales and Customer Traffic To Your Store(s).