Deals
Toyota-Uber Puts Automakers in Rival Ride-Sharing Alliances
- The size of the automaker’s investment is said to be small
- The ride-hailing company will expand its programs for drivers
Toyota and Uber Explore Ridesharing Pact
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Toyota Motor Corp.’s investment in Uber Technologies Inc. has drawn the battle lines between the world’s largest automakers, which have now solidified partnerships with competing ride-hailing apps in the burgeoning field of on-demand transportation.
Along with buying a small stake in Uber, Toyota will begin offering leases to Uber drivers, who’ll be able to cover their payments with what they earn ferrying around the app’s users. The collaboration follows investments by Volkswagen AG and General Motors Co. in Uber rivals Gett Inc. and Lyft Inc., respectively.