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Toyota Strategically Invests in Uber

Again Uber makes in the news!

A slew of car manufacturers and tech companies are investing in rideshare services. Toyota was no different! The Japanese Automaker Toyota makes a strategic investment in the top-notch taxi-hailing app Uber to explore ride-sharing industry. The terms and conditions of the deal remain undisclosed.

The duo will soon start the ride-sharing trials in various countries. Moreover, they will also develop in-car apps to support Uber drivers and enhance their respective research.  In this way, Toyota will be able to clear lease payments from this collaboration as well as put its foot forward in exploring the future of transportation.

Toyota vehicles are amongst the most popular cars on the Uber platform across the world. Uber is truly proud to partner with the global leader of the automotive industry, Toyota as it paves way for the expansion of Uber’s vehicle financing program, Uber Xchange.

Nevertheless, in last November Toyota announced its funding of $1 billion for the creation of the Toyota Research Institute, a startup established to develop AI and robotics for self-driving capabilities.

All the biggies are behind exploring the ride-sharing market. Let’s see how far Toyota goes with Uber.

Takeaways:

  • Toyota strategically invests in Uber to explore ride-sharing market.
  • The duo will also develop in-car apps to support Uber drivers and enhance their respective research.
  • In this way, Toyota will be able to clear lease payments from this collaboration as well as put its foot forward in exploring the future of transportation.
  • Toyota paves way for the expansion of Uber’s vehicle financing program, Uber Xchange.
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