The quest for driverless cars refuses to go away. And now Toyota has confirmed it is ready to invest £387million in Uber and expand a partnership to jointly develop self-driving cars.
The firm said this would involve the “mass-production” of autonomous vehicles that would be deployed on Uber’s ride sharing network.
It is being viewed as a way for both firms to catch up with rivals in the competitive driverless car market.
The deal also values Uber at a mind-blowing £60billion, despite its well documented mounting losses.
The fleet will be based on Toyota’s Sienna Minivan model with pilot trials beginning in 2021. Toyota’s Shigeki Tomoyama said: “This agreement and investment marks an important milestone in our transformation to a mobility company as we help provide a path for safe and secure expansion of mobility services like ride-sharing.”