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Softbank And Toyota Corp Decide To Invest Money In Uber’s Self-Driving Program

The investing groups along with Softbank Corp and Toyota Motor Corp are deciding on to endow money up to $ 1 billion or above in Uber’s program of the self-driving unit.
BY BEx Bureau
BusinessEx
Mar 14, 2019

The investing groups along with the Japanese conglomerate company, Softbank Corp and the Japanese automotive company, Toyota Motor Corp are deciding on to endow money up to $ 1 billion or above in Ubers program of the self-driving unit. This investment will increase the valuation of the Self-driving unit, amounting between $ 5 billion to $ 10 billion, as per the anonymous sources of the international daily news, Thomas Reuters.

The investment will uphold the ride-hailing firm, Uber's self-driving program as the company is undergoing cash crunches. More so, the valuation of Uber may increment in the stock market and touch the bar of being a $100 billion dollar company.

A spokesperson of the investing company, Toyota told that the automobile company is reflecting on several ways of investments and alongside, considering suggestions. However, the company would not proclaim anything, as reported by the International daily news, Thomas Reuters.

In the previous year, the Japanese automobile company, Toyota has endowed money worth $500 million in Ubers Self-driving program. The two companies, Toyota and Uber, have failed to ace its competitor, Alphabet Inc, since Alphabet Inc is outgrowing owing to its self-driving unit, as reported by the Indian daily news, the Indian Express

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