Toyota to Invest $500 Million in Uber

Toyota to invest about $500 million in Uber for driverless cars: WSJ

The automaker announced on Monday that it is investing $500 million in Uber and working more closely with the company to accelerate the development and deployment of self-driving vehicles.

Dr. Gill Pratt, Toyota Research Institute CEO, says that the Guardian system, coupled with Uber's automated driving tech, will "independently monitor the vehicle environment and real-time situation, enhancing overall vehicle safety for both the automated driver and the vehicle". Two years ago, Toyota invested an undisclosed sum in Uber and the two companies partnered on a car-leasing program for Uber drivers. It's unclear if Toyota will operate these autonomous vehicles or if another third-party, such as a fleet operator, will. Miller said Uber plans to have autonomous cars back on public streets by the end of the year.

Toyota expects to develop its Sienna minivans with this fusion of technologies and Uber will run them and the scheduled launch is by 2021.

The logo of Uber is pictured during the presentation of their new security measures in Mexico City, Mexico April 10, 2018.

Uber is among a number of technology and auto companies racing toward what some say is an inevitable future in which vehicles drive themselves. The investment will reportedly focus on autonomous-vehicle technology.

Standoff over Syria: US, Russia trade chemical weapon warning
Russian Federation has backed Assad's forces offensive in the south, thus breaking the agreement it signed with Russian Federation and Jordan.

Shigeki Tomoyama, the executive vice-president of Toyota, said: "This agreement and investment marks an important milestone in our transformation to a mobility company as we help provide a path for safe and secure expansion of mobility services like ride-sharing that includes Toyota vehicles and technologies".

Toyota had already invested an undisclosed amount in Uber in 2016 via its subsidiary Toyota Financial Services and Greimel said cash was the main attraction for Uber.

One of the major backers of the three big ride-hailing companies - Uber, Didi and Grab - is SoftBank Group Corp., the Japanese internet giant.

Uber has already begun testing self-driving vehicles, but was forced to remove hundreds of autonomous cars from the road in March after one of its test vehicles struck and killed a pedestrian on a street in Tempe, Arizona. Uber isn't Toyota's only investment in a ride-sharing company - it poured $1 billion into Southeast Asia's Grab Holdings Inc. earlier this year and has a partnership with China's Didi Chuxing Inc. The self-driving unit is a significant contributor to Uber's losses, which in the second quarter were $891 million. Toyota has also had a partnership earlier with Uber.

Related news:

Hot News

isis-killer-beheading-video-story-top Eden Hazard reveals fatigue after Chelsea FC’s win at Newcastle
Aug 29, 2018 - 08:45
As you can see, we do a lot of ball possession and try to press high. 'To make those players defend is not their strength, especially Eden.

isis-killer-beheading-video-story-top India exclusive mobile payments app Google Tez re-branded to Google Pay
Aug 29, 2018 - 07:36
It's quite clear that the internet ecosystem is concerned with India as it is the next major frontier for major tech companies . The service supports 28 languages, including prominent Indian languages like Hindi, Bengali, Malayalam, Marathi, and Tamil.

isis-killer-beheading-video-story-top Serena Williams aces US Open win and slays new Queen ad
Aug 29, 2018 - 06:24
But Williams broke her in the seventh game of the opening set to gain the upper hand and from there the American superstar rolled. She next faces Germany's Carina Witthoeft, with a possible third-round clash with 16th-seeded sister Venus in the offing.

isis-killer-beheading-video-story-top Trump Endorses Rick Scott, Ron DeSantis in Florida Races
Aug 29, 2018 - 05:13
The primaries in Arizona and Florida on Tuesday are the last big day of state primaries before November's elections. Then in December, Trump tweeted out his support for DeSantis, who wasn't even in the race at the time .

isis-killer-beheading-video-story-top Trump's latest Twitter victim: Google and its left-wing algorithms
Aug 29, 2018 - 04:46
At the same time , those decisions about what to allow, and what to take down, aren't always obvious - and can create controversy. More than four out of five web searches run through Google, and getting highly ranked within Google can make or break businesses.

isis-killer-beheading-video-story-top Trump terminating NAFTA, negotiating with Canada
Aug 29, 2018 - 01:32
As the cameras rolled, the USA president pressed a button on his phone and said: "And I believe the President is on the phone". The lack of a trade deal with Mexico - America's top corn buyer - threatened to have a similar impact on corn prices.

isis-killer-beheading-video-story-top British-Iranian Woman Returns to Tehran Jail After Extension Refused
Aug 28, 2018 - 20:53
Her husband Richard Ratcliffe had been hopeful this would mark the beginning of the end of her ordeal. She was jailed for five years in 2016 after being convicted of spying, which she denies.

isis-killer-beheading-video-story-top Trump, Justin Trudeau Had "Constructive Conversation" On Trade: Canada
Aug 28, 2018 - 19:56
This measure could move some production back to the U.S. from Mexico and should lift Mexican wages, a White House official said. By definition, we buy more from them than they buy from us, which gives us the power any major consumer has over a seller.

isis-killer-beheading-video-story-top Luke Shaw apologises to Manchester United fans after Tottenham humiliation
Aug 28, 2018 - 14:54
David De Gea has the ball and chips it to Phil Jones at the corner of the 18 yard box. In the first half, zero corners, zero lateral free-kicks, zero frontal free-kicks.

isis-killer-beheading-video-story-top The Mexican peso is jumping on hope for NAFTA progress
Aug 28, 2018 - 13:39
However, a day earlier Guajardo had said the two sides might be able to reach agreement in "hours". Some observers believe the Trump administration has sidelined Ottawa from the NAFTA negotiations.

isis-killer-beheading-video-story-top US, Mexico Reach New Trade Agreement
Aug 27, 2018 - 23:13
The agreement comes after a year of re-negotiations with Mexico, and the President said negotiations with Canada will begin soon. President Trump signaled a deal was close at the end of last week and did so again before the announcement Monday morning.

isis-killer-beheading-video-story-top Benitez's tactics were effective, but Sarri's style was rewarded
Aug 27, 2018 - 00:36
Sarri has however taken over, leading Chelsea to two wins from their opening two matches, including a 3-2 win over Arsenal . It was certainly a harsh call on a Newcastle defense who had been so tough to break down, but Alonso didn't think so.

isis-killer-beheading-video-story-top Lewandowski: Michael Cohen 'Very Good' at Intimidating People
Aug 27, 2018 - 00:00
Mr Trump has repeatedly denied collusion with Russian Federation , and Russia denies involvement in the 2016 election. In a separate development, the NY attorney general is moving to open a state criminal tax investigation into Cohen.

isis-killer-beheading-video-story-top KSI vs Logan Paul: YouTube boxing fight ends in a draw
Aug 26, 2018 - 23:11
Fans booed in the area as the decision was made following the six-round fight. But there was a controversial end to the bout - with NO victor declared.

isis-killer-beheading-video-story-top Verizon Promises To Stop Throttling First Responders 08/27/2018
Aug 26, 2018 - 23:00
After the second throttling experience at the Pawnee Fire in June 2018, the department upgraded to a slightly more expensive plan. Verizon said it often eases its policies in emergency situations. "This was a customer support mistake", the statement said.