$500 million from Toyota invested in Uber
The money flows into driverless technology investments show no sign of slowing down:
Uber has landed $500m (£389m) of investment from Toyota as it renews efforts to build self-driving cars for its ride-hailing app. Uber and Toyota said they hope to roll out their pilot programme in 2021, leading to the “mass production” of self-driving vehicles using technology from both companies.
Carmakers partnering with driverless technology companies has become the traditional play. The players are all circling each other, and they’re starting to form clear alliances. Uber + Toyota immediately becomes a power player in the race to make vehicles drive themselves.