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Three Japanese companies will invest in a division of Uber that develops autonomous technologies. This initiative aims to accelerate the deployment of automated carpool services.
Toyota Motor, the leading Japanese auto parts manufacturers Denso and Softbank Vision Fund will invest a billion dollars in total. Softbank Vision Fund is part of the Softbank Group.
The three hope to conclude the agreement by September.
The Softbank fund is already a major shareholder of Uber, while Toyota has invested $ 500 million in the large US auto-buying firm in recent years. Since then, they have jointly developed vehicles with autonomous driving technology.
Toyota has announced an additional $ 300 million over the next three years.
This will cover preparations for mbad production and marketing of automated carpool services and vehicles.
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