Operations

Toyota Investing In Uber

Posted on May 24, 2016

Uber has confirmed a strategic investment and auto leasing deal from Toyota.

Uber would not disclose terms of the deal or the financing program and there aren’t many details yet, but according to a release from the car manufacturer, Toyota is interested in exploring the future of transportation with Uber and the companies have “entered into a memorandum of understanding (MOU) to explore collaboration, starting with trials, in the world of ridesharing in countries where ridesharing is expanding, taking various factors into account such as regulations, business conditions, and customer needs.”

The Toyota leasing deal helps Uber expand its financing program for Uber drivers, Uber Xchange, but will also bolster Uber’s moves into a self-driving vehicle future.

Tech Crunch article here

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