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SAN FRANCISCO AND TOKYO – (BUSINESS WIRE) – Toyota Motor Corp. (Toyota), DENSO Corporation (DENSO) and SoftBank
Vision Fund (SVF) announced today its intention to invest $ 1 billion in
Advanced Technologies Group of Uber Technologies Inc. (Uber ATG). the
The investment in a new ATG entity aims to accelerate
the development and marketing of automated carpool services.
In the words, Toyota and DENSO will jointly invest $ 667 million and
SVF to Invest $ 333 Million, Appraising New Uber ATG Entity at $ 7.25
billion on a post-money basis.
Toyota invested $ 500 million in Uber in August 2018, when both
companies have announced plans to deploy pilot-scale deployments
Automated Carpool Vehicles Based on Toyota Sienna to Uber Park
carpooling network in 2021, taking advantage of the assets of Uber ATG
automatic driving technology alongside Toyota Guardian ™ advanced safety
support system.
Today's additional investment and expanded partnership builds on
progress made so far, by deepening the collaboration of companies
design and develop new generation autonomous vehicle equipment. he
will also prepare companies and industry for mass production and
marketing vehicles and automated carpool services. Toyota
will also contribute an additional $ 300 million over the next
three years to help cover the costs of these activities.
Dara Khosrowshahi, CEO of Uber, said: "This investment and our strong
partnership with the Toyota Group are a testimony to the incredible work
of our ATG team so far, and the exciting future ahead for this
important project, alongside major partners. The development of
Automated driving technology will transform transportation as we know it
make our streets safer and our cities more livable. Of the day
announcement, as well as our ongoing OEM and vendor relationships,
will help maintain Uber's position at the forefront of this
transformation."
Shigeki Tomoyama, executive vice president of Toyota and president of
Toyota's internal connected company said that, "Toyota is dedicated
to achieve a future secure and secure mobility society. Taking advantage of the
Highlights of Uber ATG Autonomous Vehicle Technology and Service
Toyota Group's vehicle control system network and technology,
mass production, and advanced safety support systems, such as
Toyota Guardian ™ will allow us to market safer and less expensive products
Automated carpool vehicles and carpool services. We believe that the
Toyota, DENSO and Uber ATG combined development work
new generation autonomous vehicle equipment will speed up the schedule
rapid success of automated carpool services. "
Hiroyuki Wakabayashi, executive vice president of DENSO, said: "Among
the biggest challenges of automated driving, most reside in the
implement both hardware and software. DENSO, as
global automotive industry, is delighted to collaborate with Uber ATG and
Toyota will develop advanced automated driving equipment that we believe will
will transform future mobility. "
Rajeev Misra, CEO of the SoftBank Vision Fund said: "The Uber team
ATG has made significant progress in developing extremely robust automated systems.
carpooling technology. With a complete platform of equipment and
software, the world's largest carpooling network and the
partnership, this collaboration is well positioned to deploy
large-scale carpooling services. "
The transaction is expected to close in the third quarter of the 2019 calendar year.
About Uber
Uber's mission is to create opportunities through movement. We started in
2010 to solve a simple problem: how to get access to a trick to the
touch of a button? More than 10 billion trips later, we build
products to get people closer to where they want to be. By changing how
people, food and things are moving in the cities, Uber is a platform that
opens the world to new possibilities. Today, the Advanced Group team
Technologies Group (ATG) takes on another challenge: how to build
and deploy a safe self-driving technology on a large scale? The ATG is composed
world-class engineering talent dedicated to vehicle safety,
automatic driving software, mapping, etc. Uber takes a holistic approach
approach to bringing autonomous vehicles to market using various
partnerships, with the ultimate goal of creating autonomous communities
carpool on the scale.
About Toyota
Toyota Motor Corporation (TMC) (NYSE: TM) is the global mobility company
who introduced the Prius electric hybrid car in 1997 and the first
The mass-produced fuel cell sedan, Mirai, in 2014. Its headquarters are at Toyota.
City, Japan, Toyota manufactures cars since 1937. Today, Toyota
proudly employs 370,000 employees in communities around the world.
Together, they build about 10 million vehicles a year in 28 countries.
and regions, from classic cars and premium vehicles to mini-vehicles
and commercial trucks, and sell them in more than 170 countries and
regions under the Toyota, Lexus, Daihatsu and Hino brands. For more
information, please visit global.toyota.
About DENSO Corporation
DENSO is a $ 48.1 billion global mobility provider that develops advanced technologies.
technology and components for almost every vehicle brand and model on the
road today. DENSO invests in the manufacture of its 220
facilities in 35 countries to produce heat, powertrain, mobility,
electrification, and electronic systems, to create jobs that directly
change the way the world moves. More than 170,000 employees of the company prepare
the road to a mobility future that improves lives, eliminates traffic
accidents, and preserves the environment. World Headquarters
Kariya, Japan, DENSO has devoted 8.8% of its consolidated global sales
on research and development during the fiscal year ending March 31, 2018.
For more information on DENSO Global, visit https://www.denso.com/global.
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