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Toyota to invest $500m in Uber

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Japanese carmaker Toyota has said it will invest a whopping €427 million ($500 million) in Uber, a global transportation company, as both multinationals partner on self-driving cars.

The two companies aim to deploy new technology across Uber’s ride-sharing network from 2021.

The partnership between Uber and Toyota is widely seen to be lagging in their its competitors.

Once completed, the deal will certainly breathe new life into Uber’s self-driving business which has been in a state of flux

In March, a self-driving Uber vehicle killed a pedestrian in the southwestern U.S. state of Arizona. The company has since removed its robot cars from the road.

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