Toyota Motor Corp. announced Monday it will be investing $500 million into Uber Technologies Inc. as part of a joint program to develop self-driving cars.
According to Reuters.com, Toyota and Uber have been widely considered behind many other companies when it comes to the autonomous driving industry, and the expanded partnership should help restart the self-driving overhaul.
Uber and CEO Dara Khosrowshahi have taken a step away from autonomous driving cars since one of the vehicles struck and killed a pedestrian in Tempe, Arizona, in March. The company has removed self-driving cars from the road, laid off hundreds of employees and closed its autonomous testing hub in Arizona.
MORE Car Rental & Rail
As part of the partnership with Toyota, the ride-hailing service will combine its autonomous driving system with Toyota’s Guardian technology. With the vehicle manufacturer’s automated safety features, the technology will be installed in Sienna minivans which will be added to Uber’s fleet starting in 2021.
The investment has improved the value of Uber from $72 billion to $76 billion.
Another main goal of the partnership is to overcome the issues that arise from mass producing self-driving cars for shared fleets, including ride-hailing services. Both companies are looking to implement their visions for deploying autonomous technology in the long term.
A fake Wi-Fi signal was discovered on a Delta flight from Las Vegas to Atlanta…
A live bullet was discovered aboard a United Airlines flight from Denver to San Diego…
The Department of Transportation and the Federal Aviation Administration (FAA) are taking an unconventional approach…
It's summer, and if you have a beach getaway coming up, are you trying the…
Back-to-school shopping is here! From high-tech gear to creative classroom essentials, we’ve got ways to…
Senior hunger and isolation are urgent and growing crises in America. Right now, millions of…