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Toyota invests $500 million in Uber, third parties to operate autonomous fleets

August 28, 2018

Human cloud/ride-sharing firm Uber Technologies Inc. received a $500 million investment from Toyota Motor Corp. In addition, the two companies are partnering to create an autonomous ride-sharing service fleet.

Technology from each will be integrated into Toyota Sienna Minivans to be deployed on Uber’s ride-sharing network. Uber and Toyota anticipate that the autonomous vehicles will be owned and operated by mutually agreed upon third-party autonomous fleet operators.

Pilot-scale deployments will begin on the Uber ride-sharing network in 2021.

“Our expanded partnership with Toyota signals our commitment to deploying self-driving technology at scale for our riders around the globe,” Eric Meyhofer, head of Uber Advanced Technologies Group, said.

Uber’s Autonomous Driving System as well as the Toyota Guardian automated safety support system will be integrated into the autonomous mobility-as-a-service vehicles. Toyota will also utilize its Mobility Services Platform, its core information infrastructure for connected vehicles.

“Uber’s automated driving system and Toyota’s Guardian system will independently monitor the vehicle environment and real-time situation, enhancing overall vehicle safety for both the automated driver and the vehicle,” Gill Pratt, Toyota Research Institute CEO and TMC fellow, said.