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Toyota in $500 Million Deal with Uber on Self-Driving Cars
Toyota Motor Corp. plans to invest $500 million in Uber Technologies Inc. and collaborate with the ride-hailing service to develop autonomous-vehicle technologies, according to media reports.
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Toyota Motor Corp. plans to invest $500 million in Uber Technologies Inc. and collaborate with the ride-hailing service to develop autonomous-vehicle technologies, according to media reports.
Reports say the companies will partner on advanced capabilities that combine Uber’s system with Toyota’s Guardian semi-autonomous platform. The resulting highly autonomous system will be installed in Toyota-brand vehicles and deployed within Uber’s ride hailing fleet.
Both companies are generally considered to be lagging in driverless-car-system development. Uber shut down its in-house program in March after one of its test cars killed a pedestrian in Arizona.
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