Toyota Invests $500 Million in Deal with Uber to Develop Self-Driving Cars

Toyota Invests $500 Million in Deal with Uber to Develop Self-Driving Cars

On Monday, the "Wall Street Journal" reported that the Japanese automotive manufacturing giant Toyota has invested $500 million into the ridesharing transportation company Uber to expand its self-driving car program.

"Since 2015, we’ve been working to bring safe, reliable self-driving technology to the Uber network. We knew we couldn’t do it alone, which is why we continue to partner with world-class vehicle manufacturers to make our vision a reality," said Eric Meyhofer, head of Uber’s self-driving unit in a statement. "Today, we’re taking our relationship with Toyota Motor Corporation to new heights—and while this isn’t our first automotive partnership, we’re taking a new approach. As part of this partnership, we’ll supply our proprietary self-driving system to Toyota Sienna Minivans."

Uber has been at the forefront of developing this technology, but in March, the self-driving program was suspended after a woman who was crossing the street in Tempe, Arizona was hit and killed by a self-driving Uber vehicle.

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