by Wolf Richter
Wolf Street
The Timeline of Billions.
Toyota, the world’s largest automaker, announced that it’s making a “strategic investment” in Uber.
The two companies have inked a memorandum of understanding “to explore collaboration, starting with trials, in the world of ridesharing in countries where ridesharing is expanding, taking various factors into account such as regulations, business conditions, and customer needs.”
And it comes with some serious bucks, presumably, courtesy of Toyota Financial Services Corporation and Mirai Creation Investment Limited Partnership.