Toyota announces investment in Uber
Toyota Motor Corporation announced an investment in ride-hailing company Uber Tuesday, along with a partnership to develop in-car apps and start a leasing program. With the leasing program, car buyers can lease a vehicle from Toyota and make payments based on earnings made as an Uber driver, according to the release. Toyota's investment follows a Volkswagen investment in Gett, a ride-hailing competitor, also announced Tuesday, as well as a previous investment by General Motors Co. in Lyft. Toyota made the investment with Mirai Creation Investment Limited Partnership. The financial terms of the deal were not disclosed.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.