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TOKYO – Japan's largest automaker, auto parts manufacturer Denso and investment fund company SoftBank are investing $ 1 billion in Uber's vehicle sharing technology unit.
Japanese companies announced Friday that Toyota Motor Corp. and Denso Corp. would invest $ 667 million together. The Vision Fund of SoftBank Corp. will invest $ 333 million in the new entity of Uber Technologies Inc., Advanced Technologies Group, or Uber ATG, which will attempt to develop and commercialize automated ridesharing services.
The move comes as Toyota steps up its efforts, including investing $ 500 million in San Francisco-based Uber and setting up a $ 20 million joint venture with SoftBank to create mobility services, announced today. Last year.
Toyota has also pledged to contribute up to an additional $ 300 million over the next three years to the development of new generation vehicles and autonomous services.
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