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Business

Toyota and Uber share ride to the future

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Business

Toyota and Uber share ride to the future

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00:00:01
In a game of musical chairs between Silicon Valley tech companies and the giant car industry, Toyota has landed on Uber. The Japanese auto giant Tuesday announcing that partnership. Reuters reporter Alexandria Sage in San Francisco.>> There's been a wave of such deals. First it started out with GM investing a half a billion dollars in Lyft.
00:00:24
Then just recently as two weeks ago, we saw Apple investing in DiDi, the Chinese ride-hailing company. There was a smaller deal with Volkswagen investing in Gett this morning. It shows how traditional car companies are trying to keep these upstart mobility companies closer to their vest. At one point they considered them rivals.
00:00:50
Now they think perhaps they could be partners. And they think it's a better, safer bet to keep them close.>> Toyota didn't say how much it's investing in Uber. But part of the deal will allow Uber drivers to lease cars through Toyota. Toyota's been aggressive in its investment in self-driving car technologies.
00:01:08
Last month it said it would open its third US research lab for artificial intelligence, robotics and material science. Uber hasn't been stalling either, last week it unveiled its first self driving car in Pittsburgh. So as the race to the future speeds up, expect the line between lanes to blur.