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Sharing Economy

Toyota to pump $500m more into Uber

Partners look to deploy self-driving car on ride-hailing network by 2021

Uber froze its development efforts in self-driving vehicles earlier this year after a fatal accident but may hope to restart them under strengthened ties with Toyota.   © Reuters

PALO ALTO, U.S. -- Toyota Motor on Tuesday announced it will invest an additional $500 million in Uber Technologies, in a move aimed at expanding its partnership with the American ride-hailing company beyond vehicle leasing to the development of self-driving cars.

In a pilot project, a new self-driving car is to be deployed on the Uber ride-sharing network in 2021. The two companies will also consider operating mass-produced autonomous vehicles, as well as the option of bringing in mutually agreed upon third-party operators for the autonomous fleet.

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