Toyota is investing in Uber
Toyota is expanding its ride-sharing initiatives by investing in Uber, according to Bloomberg. The publication says that the pair have “entered into a memorandum of understanding to explore collaboration in ride-sharing.” Sure. In 2014, Toyota started testing its own ride-sharing service in France, but I’m willing to bet that this new deal won’t mean your next Uber will be one of those cute i-Road electric cars. By partnering with Uber, the Japanese car manufacturer is able to skip the hassles of setting up its own infrastructure — unlike, say General Motors and its ZipCar-like Maven service — and still be a part of the scene.
The way the press release from Toyota tells it, the company will offer leasing options to drivers through its Toyota Financial Services system and drivers will be able to make their payments with what they’re earning through Uber, directly. The statement also says that the pair are working on devising a fleet program that’d sell Toyota and Lexus cars to Uber.
An Uber spokesperson told Engadget: “Toyota is a global leader in the automotive industry and Toyota vehicles are among the most popular cars on the Uber platform worldwide. We are proud to partner with Toyota in a variety of ways, including the expansion of our vehicle financing program.”
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