Toyota invests millions of dollars in Uber autonomous vehicles

Toyota invests millions of dollars in Uber autonomous vehicles

April 19, 2019 0 By autotimesnews

Japanese brand took part in the next round of investment

The Uber division, specializing in the development of unmanned technology, will receive an investment of one billion dollars from the Japanese investment fund SoftBank’s Vision Fund, Toyota and manufacturer of automotive components Denso. For Toyota, this is not the first investment in UberATG – last year the company allocated funds in the amount of $ 500 million.

He led a round of investment SoftBank’s Vision Fund, which also provided $ 333 million. The total investment of Toyota and Denso in UberATG amounted to 697 million dollars. It is expected that after the IPO, the date of which has not yet been determined, Uber will be able to attract an additional 10 billion dollars, and the estimated value of the company will be 100 billion dollars.

Last August, Toyota invested $ 500 million in Uber. As part of a strategic partnership, companies intend to jointly develop drones. In addition, for field testing, Uber will install its autopilots on Toyota Sienna minivans and will also certify the technology and prepare it for commercial use.

In March 2018, Uber suspended tests of prototypes of vehicles equipped with autonomous control systems, which were conducted in Toronto, Phoenix, Pittsburgh and San Francisco. The reason for this decision was the accident in which the woman died. At the end of 2018, the tests resumed.