The automaker announced on Monday that it is investing $500 million in Uber and working more closely with the company to accelerate the development and deployment of self-driving vehicles. Uber plans to retrofit Toyota Sienna minivans with its autonomous technology and begin real-world testing in 2021.
The deal gives Toyota a key partner in a field that is growing rapidly, and comes on the same day that four of the automaker’s suppliers announced a partnership to develop some of the software underpinning autonomous vehicles.
"This agreement and investment marks an important milestone in our transformation to a mobility company," Shigeki Tomoyama, the president of Toyota Connected Company, said in a statement.
Automakers and tech companies continue scrambling to position themselves for a future in which car ownership gives way to mobility as a service. That’s led to a growing number of partnerships as companies like Toyota realize they don’t know much about ridesharing and companies like Uber discover that building cars is hard.

Sourced through Scoop.it from: money.cnn.com