Japan's automaker Toyota Motor Corp. has announced that the will invest up to $ 500 million in U.S. company Uber trying to improve and develop its own autos. The investment would raise Uber value to $ 72 billion, slightly higher than SoftBank GP
According to the terms of the contract, Uber will integrate the self-driving technology in the Toyota Siena mini cars for use in the cycling network in Uber. They said later that the vehicles could be owned and operated by fleet managers from third parties. Toyota shares rose by 2% on the day.
This comes at a time when Uber strives to limit the losses sustained. "The agreement and investment is a milestone in our transformation into a mobility company where we are helping to provide a pathway for the safe expansion of mobility services and options. Executive vice president of Toyota said.
