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Toyota, Uber to Partner on Ridesharing
Toyota Motor Corp. says it is making an unspecified investment in Uber Technologies Inc. and partnering with the ride-hailing service to develop new features and mobility programs.
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Toyota Motor Corp. says it is making an unspecified investment in Uber Technologies Inc. and partnering with the ride-hailing service to develop new features and mobility programs.
As part of the deal, the carmaker plans to offer new leasing options through its Toyota Financial Services (TFS) unit that will allow vehicle buyers to use earnings generated as Uber drivers to cover monthly lease payments. The partners also will explore other potential collaborations, such as developing apps to support Uber drivers and establishing a fleet program to sell Toyota and Lexus vehicles to Uber.
The investment is being made through TFS and Mirai Creation Investment Ltd., which Toyota created last year in partnership with Sumitomo Mitsui Banking Corp. and Sparx Group Co.
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