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May 25, 2016 02:00 am

Toyota Forms 'Strategic Partnership' With Uber

An anonymous reader quotes a report from The Verge: Toyota and Uber are forming a "strategic partnership" which will include an investment by the Japanese automaker in the San Francisco-based ride-sharing company. Under the agreement, Uber drivers can lease their vehicles from Toyota and cover their payments through earnings generated as Uber drivers. Toyota says it will invest an undisclosed sum in Uber, which is already the most valuable technology startup in the world. A partnership between Toyota and Uber could help the ride-sharing company solve a lingering question surrounding its self-driving ambitions, namely where its going to get a fleet of cars to equip with its autonomous technology. Toyota, which is the world's largest car manufacturer, is taking self-driving technology very seriously. It recently established the Toyota Research Institute to develop AI technologies in two main areas: autonomous cars and robot helpers for around the home. Last month, Google, Ford, Volvo, Lyft and Uber joined a coalition to help spur the development of self-driving cars, ultimately to make them arrive to the market faster. Meanwhile, Apple made an investment in Uber's Chinese rival Didi.

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