Toyota and Uber have entered into a memorandum of understanding (MOU) to explore collaboration, starting with trials in countries where ridesharing is expanding. As part of the partnership, Toyota Financial Services and Mirai Creation Investment are making a strategic investment in Uber.
As part of the partnership, the companies will create new leasing options in which car purchasers can lease their vehicles from Toyota Financial Services and cover their payments through earnings generated as Uber drivers. This initiative builds on Uber’s current Vehicle Solutions program.
“Ridesharing has huge potential in terms of shaping the future of mobility. Through this collaboration with Uber, we would like to explore new ways of delivering secure, convenient and attractive mobility services to customers,” said Shigeki Tomoyama, senior managing officer of Toyota Motor and president of the Connected Company, one of Toyota Motor Corporation’s recently created in-house companies.
Toyota and Uber also will explore collaboration in a variety of other areas, such as developing in-car apps that support Uber drivers, sharing knowledge and accelerating their respective research efforts, and establishing a special fleet program to sell Toyota and Lexus vehicles to Uber drivers.