Toyota Invests in Uber
Toyota car manufacturer Toyota plans to invest 500 million US dollars, US $ 53 billion, US Uber. The investment will focus on mass production of automotive cars, which the companies intend to develop jointly.
In the BBC’s review, plans suggest that the vehicle-free vehicles will be used for Uber services, which have been widely used in the taxi market, despite the fact that the company loses money at once. Toyota’s investment is thought to mean that the two companies are going to hit their rivals in the development of auto-driven cars.
A press release quoted by the BBC states that software from both companies will be utilized in Toyota manufactured by Toyota and that the car fleet will be based on Sienna’s small-scale Toyota. It is expected that the product will be tested in 2021.
Toyota and Uber’s technical departments will combine their power to reach their rivals. Diagram / Uber
Uber has had trouble developing auto-driven cars. The BBC’s North America Technical Officer Dave Lee says it was obvious that the company needed external help, but that the partnership could also benefit Toyota and even a great opportunity for the Japanese car manufacturer.
Self-propelled car kills roadman
“It was reported earlier this month that Uber would be spending 1-2 million US dollars a day in the development of self-propelled technology,” Lee writes and concludes that the outcome has not been great, so far, the operation has been causes a single accident, very expensive lawsuit and low self-drive.