Toyota and Uber team up

Toyota and Uber have announced the beginning of a partnership to explore collaboration in the world of ridesharing. The signed memorandum of understanding will see the two companies start with trials in countries where ridesharing is expanding. As part of the partnership, Toyota Financial Services Corporation and Mirai Creation Investment Limited Partnership are making a strategic investment in Uber.

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Toyota and Uber have announced the beginning of a partnership to explore collaboration in the world of ridesharing. The signed memorandum of understanding will see the two companies start with trials in countries where ridesharing is expanding. As part of the partnership, Toyota Financial Services Corporation and Mirai Creation Investment Limited Partnership are making a strategic investment in Uber.
As part of the new partnership, the companies will create new leasing options in which car purchasers can lease their vehicles from Toyota and cover their payments through earnings generated as Uber drivers. The leasing period will be flexible and based on driver needs. This initiative builds on Uber’s current Vehicle Solutions program.

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“Ridesharing has huge potential in terms of shaping the future of mobility. Through this collaboration with Uber, we would like to explore new ways of delivering secure, convenient and attractive mobility services to customers,” said Shigeki Tomoyama, senior managing officer of Toyota Motor Corporation and president of the Connected Company, one of Toyota Motor Corporation’s recently created in-house companies.

Source: Toyota