Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    The Arai VZ-RAM Nakagami GP2 Set For A Release In March

    February 4, 2023

    2023 International Female Ride Day Logo

    February 4, 2023

    2023 Lexus RZ 450e Starts at $59,650

    February 4, 2023
    Facebook Twitter Instagram
    • About Us
    • Contact
    • Privacy Policy
    • Disclaimer
    Facebook Twitter Instagram Pinterest VKontakte
    The Auto JournalThe Auto Journal
    • News
    • Car
    • Bike
    • EV
    • Comparisons
    • Reviews
    • Guide
    The Auto JournalThe Auto Journal
    Home ยป Toyota cuts Uber stake in half
    News

    Toyota cuts Uber stake in half

    Editor - The Auto JournalBy Editor - The Auto JournalJune 23, 2022Updated:June 23, 2022No Comments2 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Toyota Motor Corp has reduce its stake in Uber Technologies Inc by about half, after the ride-hailing firm divested the autonomous driving unit on the heart of their collaboration.

    “The development of vehicles related to automated driving was one of the main objectives of Toyota’s investment,” Toyota spokesperson Shiori Hashimoto stated in a press release, including that the corporate nonetheless goals to keep up their alliance.

    The world’s largest automobile maker by quantity held 5.13 million shares of Uber as of March 31, down from the ten.25 million shares it owned a yr earlier, Toyota revealed in a regulatory submitting on Thursday.

    The Japanese automaker valued its present stake in Uber at 22.4 billion yen ($165.51 million).

    “Toyota continues to hold shares as part of our goal to maintain our collaboration and good relationship with Uber,” Hashimoto stated.

    Toyota had invested $500 million in Uber in 2018 to collectively work on creating self-driving automobiles, as each firms sought to catch as much as rivals within the hotly aggressive autonomous driving enterprise.

    In 2020, nevertheless, Uber offered its autonomous driving unit to Aurora Innovation in a bid to realize its profitability targets.

    In March Aurora stated it and Toyota had began testing autonomous ride-hailing fleet in Texas, with two security operators and no passenger on board. Read full story.

    Uber was not instantly accessible for remark.

    Source: www.autonews.com

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Previous ArticleToyota, Subaru recall EVs over threat wheels might come unfastened; clients informed to cease driving
    Next Article Union-made bonus for EV tax credit score proposal is gone, Manchin confirms
    Editor - The Auto Journal
    • Website

    Related Posts

    2023 Lexus RZ 450e Starts at $59,650

    February 4, 2023
    Read More

    Things Are Kind of a Mess at Two New York Area Airports

    February 4, 2023
    Read More

    The Enormous Antonov An-225 Mriya Flies Again in Microsoft Flight Simulator

    February 4, 2023
    Read More

    How Much Power Does The 2023 Kawasaki Ninja ZX-4RR Make?

    February 3, 2023
    Read More
    Add A Comment

    Leave A Reply Cancel Reply

    Editors Picks

    The Arai VZ-RAM Nakagami GP2 Set For A Release In March

    February 4, 2023

    2023 International Female Ride Day Logo

    February 4, 2023

    2023 Lexus RZ 450e Starts at $59,650

    February 4, 2023

    Things Are Kind of a Mess at Two New York Area Airports

    February 4, 2023
    Top Reviews
    Advertisement
    The Auto Journal
    Facebook Twitter Instagram Pinterest YouTube LinkedIn
    • About Us
    • Contact
    • Privacy Policy
    • Disclaimer
    © 2023 The Auto Journal. All Rights Reserved.

    Type above and press Enter to search. Press Esc to cancel.