Blog

Posted in: 28/08/2018

Toyota will invest $500 million in Uber in deal to put self-driving cars on the road.

Toyota plans to invest around $500 million in Uber,  as the two enter an agreement to work together on driverless technologies. The publication cites sources familiar with the matter and the investment would value Uber at $72 billion. Reports surfaced earlier this month that Uber investors told the company it should consider selling off its self-driving car unit due to the substantial losses the project has racked up.

The cash influx will likely be good news for CFO Nelson Chai. Last week, Uber hired the new chief financial officer, filling a position that had been left open since 2015. The company's continued losses are expected to be a challenge for Chai as Uber moves towards an IPO next year.

Update: The deal is official. As expected, Toyota confirmed it will invest $500 million in Uber, and said in a press release that "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." Uber CEO Dara Khosrowshahi said "Our goal is to deploy the world's safest self-driving cars on the Uber network, and this agreement is another significant step towards making that a reality. Uber's advanced technology and Toyota's commitment to safety and its renowned manufacturing prowess make this partnership a natural fit. I look forward to seeing what our teams accomplish together."

Specifically, their agreement will create an "Autono-MaaS" (autonomous-mobility as a service) fleet based on Toyota's Sienna minivan. Using Uber's self-driving tech and Toyota's Guardian system, they claim it will enhance vehicle safety. It sounds like a better plan than Uber''s previous test with Volvo, where enabling its self-driving tech meant disabling built-in assists that could have helped avoid a crash like the one that killed a pedestrian. The plan is to start "pilot-scale" deployments on Uber's network in 2021.

Comments


Advertising

Know our services

We are a shop that offers complete repair and painting services. Your vehicle is completely restored, regardless if the accident was either simple or severe to the extension of damaging your vehicles structure. Our licensed shop offers guarantees for all the completed work done in a timely manner to have your vehicle back on the roads, as soon as possible.

know more

You can’t predict when your car will leave you stranded on the road or when an accident will occur. Always remember that Simon’s Auto Body is the best solution when you find yourself in a situation like this.

know more

Of course you love your car, but you also like to keep your daily schedule and fulfill your commitments, right? So while your car is being restored, a rental car can be a great advantage!

know more

Painting is one of the most delicate steps in the process of recovering a car. It requires qualified professionals to complete the job.

know more

These minor damages that occurred from daily use to your vehicle can result in extra costs. Come to Simon's Auto Body, where we check your bumper car from front to back, taking care of all the small details.

know more

If you received a letter requisition a pre-inspection of your vehicle during your insurance renewal, rest assured because it’s a procedure that has become more common each year.

know more

Did you know that when your lease agreement expires, or if you choose to change your car, an inspector has a check list ready to check your vehicle? The inspector evaluates broken parts to small scratches and dents that could easily be corrected.

know more

Here at Simon's Auto Body we repair all types of windshields, from front to rear in any model of car or truck.

know more

Car detailing goes beyond cleaning your car. Detailing is very common in the United States and Europe. Simon's Auto Body offers the best detailing service in the Framingham region, leaving your car with a 0km feeling. We provide pleasure and satisfaction in driving a clean and fresh car.

know more