On the heels of its IPO announcement, Uber is getting significant financial support for its autonomous tech efforts
Share to twitterUber's self-driving car unit is being set up as a new entity and is getting a major cash infusion from three big Japanese partners.and a fatal accident that killed a pedestrian, is being spun into a new operation and getting a $1 billion financial jolt from Toyota, auto-parts giant Denso and the SoftBank Vision Fund, which has placed multiple bets on autonomous vehicle tech over the past year.
$500 million investment Toyota made in Uber in 2018, and plans to supply the San Francisco-based company with a purpose-built automated rideshare vehicleTheir partnership is geared toward preparing for"mass production and commercialization of automated ridesharing vehicles and services," Uber said. To that end, Toyota will also invest up to $300 million more over the next three years.
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