Daily Management Review

Japanese investors to invest $ 1 billion to develop unmanned vehicles at Uber


Toyota Motor Company, Denso and SoftBank Vision Fund will invest $ 1 billion in a division of Uber Technologies Inc., which develops unmanned vehicles, reports Uber.

Under the terms of the agreement with Uber, Toyota and Denso will jointly invest $ 667 million in the developer of unmanned vehicles Advanced Technologies Group (Uber ATG), and SoftBank Vision Fund will provide $ 333 million. Based on the amount of investment, the cost of Uber ATG is estimated at $ 7.25 billion

Toyota may additionally invest up to $ 300 million in the next three years to help cover the costs of assembling unmanned vehicles. Uber recalls that this is not the first investment by Toyota: the Japanese company has already invested $ 500 million in August 2018

Uber CEO Dara Khosrowshahi said that new investments will help Uber stay at the forefront in the development of automatic driving technologies.

Uber is a transport service that allows hiring a taxi. Established in 2009, the company is headquartered in San Francisco (USA).

source: reuters.com