Toyota Invests In Uber To Explore Ridesharing

Posted: May 25 2016, 11:04am CDT | by , in News | Cars & Vehicles

Toyota Invests in Uber to Explore Ridesharing
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  • Uber and Toyota have tied Knots to enter the Ride–Sharing Race

Uber and Toyota Motor Corporation are ready to join the relay race among the car companies and technology platform in the exploration of new modern cars.

Toyota announced today that Toyota Financial Services Corporation along with Mirai Creation Investment Limited are investing in Uber.

The motive behind this is to start the trials of ride-sharing all around the world to promote ridesharing in countries where it has the potential for expansion. Not only this but certain factors like regulations, business conditions, and customer needs are also being kept in the mind.

Ride-sharing and car-sharing events are becoming popular. The development of mobility services is accelerating. Toyota and Uber, together want to satisfy their customers by adding new value to the services.

The car purchasers will be facilitated more this time as Toyota has introduced new leasing options that are flexible for its customers and can help them to pay back by working as Uber drivers.

The money generated through this job will help them to make payments to Toyota. However, the leasing period will also be in accordance with the needs of the driver.

These flexible policies are a part of Uber’s current Vehicle Solution Plan. Ridesharing can be a good step in enhancing the idea of mobility. Toyota Motor Corporation has also launched a few in-house companies this year.

"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.

"We're excited that Toyota, the largest automobile manufacturer in the world, is making a strategic investment in Uber as part of a broader global partnership. Toyota vehicles are among the most popular cars on the Uber platform worldwide and we look forward to collaborating with Toyota in multiple ways going forward, starting with the expansion of our vehicle financing efforts," said Emil Michael, Chief Business Officer of Uber.

Toyota has been the world’s best automobile company and it is heading its way with its new partner to expand vehicle financing efforts. In-car apps are also being developed to establish and strengthen the relationship between Uber and Toyota in their program to sell Lexus and Toyota to their customers.

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