Uber Announces Early $1B AV Investment

April 23, 2019
Uber’s Advanced Technologies Group, which works on self-driving vehicles, has netted an investment from SoftBank, Denso and Toyota adding up to 10 figures.

April 23, 2019—Uber has announced a deal for a $1 billion investment in its self-driving vehicle unit, weeks before its initial public offering, reported CNBC.

Toyota and Japanese auto-parts supplier Denso will together invest $667 million, while Softbank’s Vision Fund will invest $333 million.

Uber officially kicked off its IPO process last week with the public filing of its prospectus. The next stage is a road show at the end of April, where Uber’s executives and bankers will sell the ridesharing startup’s story and business model to potential public market investors.

Sponsored Recommendations

Best Body Shop and the 360-Degree-Concept

Spanesi ‘360-Degree-Concept’ Enables Kansas Body Shop to Complete High-Quality Repairs

ADAS Applications: What They Are & What They Do

Learn how ADAS utilizes sensors such as radar, sonar, lidar and cameras to perceive the world around the vehicle, and either provide critical information to the driver or take...

Banking on Bigger Profits with a Heavy-Duty Truck Paint Booth

The addition of a heavy-duty paint booth for oversized trucks & vehicles can open the door to new or expanded service opportunities.

Boosting Your Shop's Bottom Line with an Extended Height Paint Booths

Discover how the investment in an extended-height paint booth is a game-changer for most collision shops with this Free Guide.