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TOKYO (AP) – Japan's largest automaker, auto parts maker 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 together invest $ 667 million and the Vision Fund of SoftBank Corp. would contribute $ 333 million to Uber Technologies Inc.'s Advanced Technologies group, Uber ATG, to develop and market 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.
Toyota Executive Vice President Shigeki Tomoyama said collaboration would reduce costs and accelerate development.
Uber chief executive, Dara Khosrowshahi, expressed hope that the agreement, which is expected to be finalized by the third quarter, will help maintain the leadership position of the company. Uber in technology.
"The development of automated driving technology will transform transportation as we know it, making our streets safer and our cities more livable," he said.
SoftBank has invested in Didi and Grab, as well as in Uber, and has acquired the leader of the IoT, Arm, while Toyota is developing autonomous vehicles in time for the Tokyo 2020 Olympics.
Car manufacturers around the world are joining forces to develop next generation transport. Similarly, Google's Waymo and Tesla, an American manufacturer of electric cars, also play an important role.
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