Toyota and Uber have announced a partnership to explore a possible ridesharing collaboration.
The two companies have entered into a memorandum of understanding (MOU) that will explore collaboration, starting with trials in countries where ridesharing is expanding, taking various factors into account such as regulations, business conditions and customer needs. As part of the partnership, Toyota Financial Services and Mirai Creation Investment Limited Partnership are making a strategic investment in Uber.
The two companies hope to accelerate talks to establish new services and to offer new value to customers. For example, the companies will create new leasing options in which buyers can lease their vehicles from Toyota Financial Services and cover their payments through earnings generated as Uber drivers. They will also explore ridesharing collaboration in a variety of other areas, like developing in-car apps that support Uber drivers, sharing knowledge and accelerating their respective research, as well as establishing a special fleet program to sell Toyota and Lexus vehicles to Uber drivers.
“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 Corporation and president of the Connected Company, one of Toyota Motor Corporation’s recently created in-house companies.