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Toyota Motor to invest in Uber, establish new services

Staff writer |
Toyota Motor and Uber are announcing a partnership. The companies have entered into a memorandum of understanding (MOU) to explore collaboration in countries where ridesharing is expanding.

As part of the partnership, Toyota Financial Services Corporation and Mirai Creation Investment Limited Partnership are making a strategic investment in Uber.

Against the backdrop of rapidly evolving car usage trends in recent years, the development of mobility services in new areas, including ridesharing and car-sharing, has gathered pace on a global scale.

Through this agreement on the trials, Toyota and Uber will accelerate further talks in aiming to establish new services and to offer new value to customers.

As part of this partnership, the companies will create new leasing options in which car purchasers can lease their vehicles from Toyota Financial Services and cover their payments through earnings generated as Uber drivers.

The leasing period will be flexible and based on driver needs. This initiative builds on Uber’s current Vehicle Solutions program.

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