In an announcement on Monday, Toyota unveiled its plans to invest $500 million in ride-sharing app company Uber to expand into the self-driving vehicle market.
Uber is planning to integrate autonomous technology into Toyota Sienna minivans and start testing them out by 2021. Uber's app already has millions of users – something that could potentially bolster Toyota’s penetration into the self-driving car market. During the International Consumer Electronics Show in January, the two companies had announced e-Palette, an autonomous vehicle project intended to serve various purposes including pizza delivery and ridesharing.
We have seen similar partnerships made by Waymo (Alphabet’s self-driving technology subsidiary) with Chrysler and Jaguar Land Rover.