Automotive giant Toyota has invested in plucky startup Uber, the company which turns almost anyone with a car into a potential taxi driver and is now available in 460 cities worldwide.
Toyota hasn’t said how much it has invested, but it will also offer new vehicle leasing options to Uber drivers, better suited to their use of the car, including paying for their lease through earnings generated as Uber drivers.
Of course, it’s not just Uber drivers who’ll benefit, Toyota is hoping its so-called ‘memorandum of understanding’ between the two companies will help speed up research into patterns of car usage, in-car apps and areas including driverless cars.
Shigeki Tomoyama, a Toyota Motor Corporation senior managing officer and president of the Connected Company, a recently created Toyota in-house business, said: “Ridesharing has huge potential in terms of shaping the future of mobility. Through this collaboration with Uber, we would like to explore new ways of delivering secure, convenient and attractive mobility services to customers.”
Emil Michael, Uber’s Chief Business Officer, said: “We’re excited that Toyota, the largest automobile manufacturer in the world, is making a strategic investment in Uber as part of a broader global partnership. Toyota vehicles are among the most popular cars on the Uber platform worldwide and we look forward to collaborating with Toyota in multiple ways, starting with the expansion of our vehicle financing efforts.”
Toyota isn’t the only carmaker getting in on the action, Volkswagen has also invested $300m in Gett, an Israel-based carsharing platform. Gett isn’t as widespread as Uber, currently available in 60 cities, but in London it is favoured with the capital’s black cabs, around half of which use Gett.
“We are thrilled to partner with the Volkswagen Group, the number one global car manufacturer,” said Shahar Waiser, Gett’s founder and CEO. “With VW’s investment, Gett will now accelerate its expansion to the rest of Europe and strengthen its position in NYC, where we already operate.”
