Uber Technologies Inc. announced the attraction of investments in the amount of $1 billion: the money will be used to develop innovative passenger transportation services.
The funds will be received by Uber ATG division - Advanced Technologies Group (advanced technologies group). The money will be provided by Toyota Motor Corp. (Toyota), DENSO Corporation (DENSO) and SoftBank Vision Fund (SVF).
It is noted that Uber ATG specialists will develop and commercialize automated ride-sharing services. In other words, we are talking about platforms for passenger transportation on self-driving vehicles.
As part of the agreement, Toyota and DENSO will jointly provide Uber ATG with funds in the amount of $667 million. SVF will invest another $333 million in the group. Thus, the market value of the Uber ATG division is estimated at $7,25 billion. The necessary transactions are planned to be completed in the third quarter of this year.
βThe development of automated driving technologies is transforming the transportation industry, making streets safer and cities more comfortable,β Uber said.
The introduction of autopilot promises revolutionary changes in the field of road traffic in four main aspects: improving safety, reducing traffic congestion, reducing harmful emissions and saving time.
Source: 3dnews.ru