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Top new models for SA

From Renault's new Alaskan bakkie to the latest models at the Frankfurt motor show bound for SA.

Electric cars in SA

The debate on whether or not Electric Vehicles (EV) are viable in South Africa rages on.

Toyota to invest in Uber

2016-05-25 11:23

UBER DEAL: Toyota becomes the latest automaker to invest in Uber. Image: AP / Joshua Paul

New York - Toyota is investing in Uber, making it the latest car company to put money in a ride-hailing app.

The Japanese automaker has yet to report how much its investment is worth.

Lease Toyota models

As part of the deal, Uber drivers can lease Toyota vehicles with money earned from their driving.

Investing in cab-hailing services can be a way for automakers to sell more cars. Earlier in 2016, General Motors invested $500-million in Uber rival Lyft.

Read: Here's how Toyota will spend its R6.1-billion investment in SA

Toyota is investing in Uber alongside Mirai Creation Investment Limited Partnership, an investment fund backed by Toyota and Japanese bank Sumitomo Mitsui Banking Corp.

Also read:

Uber launches two-wheeler foray in Bangkok

What is Uber doing to SA's cab industry?

Taxi protests: SA Uber drivers targeted

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Read more on:    toyota  |  uber  |  new york  |  investment  |  ride-hailing app

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