SoftBank and Toyota plan to invest at least $ 1 billion in Uber

SoftBank and Toyota plan to invest at least $ 1 billion in Uber

March 15, 2019 0 By autotimesnews

A group of investors, led by SoftBank Group and Toyota Motor, is negotiating for an investment of $ 1 billion or more in the Uber Technologies division, which deals with autonomous cars. Reuters reports citing its own sources.

This investment, as noted, could increase the capitalization of the company’s unit to $ 5-10 billion.

In addition, these investments could underline the value of Uber itself, as the company prepares for its debut in the stock market – the company plans to enter the IPO in the second half of 2019.

It is reported that Uber and SoftBank refused to comment. The representative of Toyota said that the automaker “is constantly considering a variety of investment options”, but did not name specific companies. The edition reminded that last year Toyota invested $ 500 million in Uber.

The news on investment negotiations was first published by The Wall Street Journal, which stated that the deal could be reached next month. SoftBank Group’s shares rose 4% in morning trading in Tokyo, while Toyota’s shares remained unchanged.