NEW YORK: A group of investors led by SoftBank Group Corp and Toyota Motor Corp is in talks to invest US$1 billion or more into Uber Technologies Inc's self-driving vehicle unit, which would value the unit at US$5 billion to US$10 billion, said two people familiar with the talks.
Uber and SoftBank declined to comment. A Toyota spokesman said the automaker"constantly reviews and considers various options for investment" but does not have anything to announce. Japan's largest automaker Toyota injected US$500 million into Uber last year to work on self-driving cars, where both companies are seen as lagging rivals like Alphabet Inc's self-driving unit Waymo.Uber, which last year lost about US$3.3 billion, is betting on a transition to self-driving cars to eliminate the need to pay drivers.
Source: Car News Wire (carnewswire.net)
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