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Automakers

Toyota, Denso, SoftBank invest $1B in Uber's AV unit

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Uber's investment deal with Toyota, Denso and Softbank was announced Thursday. From left to right: Hiroyuki Wakabayashi, executive vice president, Denso; Eric Meyhofer, head of Uber ATG; Dara Khosrowshahi, CEO of Uber; Shigeki Tomoyama, Toyota executive vice president and president of Toyota's in-house Connected Co.; and Ervin Tu, managing partner of Softbank Vision Fund. (TOYOTA)
HS
By:
HEATHER SOMERVILLE
R
By:
Reuters
|
April 19, 2019 05:21 PM

SAN FRANCISCO -- Uber's autonomous vehicle unit has raised $1 billion from a consortium of investors including SoftBank Group Corp., giving the company a much-needed funding boost for its pricey self-driving ambitions on the eve of its public stock offering.

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