TOY­OTA TO IN­VEST $500 MN IN UBER

Business Today - - THE BUZZ -

Ja­panese auto ma­jor Toy­ota Mo­tors is in­vest­ing $500 mil­lion in US-head­quar­tered ride-hail­ing com­pany Uber so that the com­pa­nies can jointly de­velop au­ton­o­mous ve­hi­cles. The in­vest­ment will value Uber at about $72 bil­lion. Toy­ota is re­port­edly plan­ning to man­u­fac­ture its Si­enna mini­vans loaded with Uber’s soft­ware and test­ing is sched­uled to start on Uber’s ride-shar­ing net­work in 2021.

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