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Self-driving unit of Uber gets $1billion

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Dara Khosrowshahi, Uber CEO has announced this evening about $1 billion investment from the SoftBank’s Vision Fund, car maker Toyota and the automative component supplier namely Denso. The Wall Street Journal published an article a week ago regarding this news about Uber was very close to secure funding for its uber advanced technologies group or UberATG, autonomous division.



Khosrowshahi announced this investment news with a tweet along with a photo of the CEO alongside executives from the Denso, Toyota and SoftBank. This capital injection values the self-driving unit of Uber at $7.25 billion ahead of the official initial public of the company offering likely later of this year. IPO of Uber is expected to raise around 10 billion dollars for the overall ride-hailing company and value the company at $100 billion.

Every listener to the terms of this investment can understand that Denso and Toyota collectively contribute $667 million. On the other hand, vision fund of the SoftBank contributes $333 million. Individuals who closely watch the finances of Uber can make a better-informed decision. This company has received $500 million investment from Toyota in 2018 for accelerating the self-driving efforts. For example, this company enhanced its efforts to put a retrofitted fleet from Toyota Sienna on the road for testing the autonomous technology of Uber and deploy it commercially within 2021.

All beginners to the Uber ATG self-driving car investment think about the testament to the work of ATG team to date. The best investment and strong partnership with reputable company Toyota Group play the main roles behind the exciting feature ahead for the significant project alongside great partners. The announcement from the Uber today along with the ongoing OEM as well as supplier relationships helps the company to maintain its position at the forefront of the positive transformation at this time. You want to build it into a business and start making money fast, right? It all sounds easy and it is, but that’s the problem you can check here step by step guide on how to get started.

The funding from the Japanese financial as well as automotive industries for the UberATG is revealing a sign of confidence. The overall efforts of this company in the research and development of the UberATG play the main role behind its notable success. The company has avoided the criminal charges in the death at hands of the autonomous car took place in last year and claimed the life of Elaine Herzberg, 49-year old person. This fatal accident ended the test program of Uber in Tempe, Arizona. However, the company has resumed testing in Pittsburgh, Pennsylvania, headquarter of the UberATG. Regular improvement in the design and development of autonomous driving elements make this company very popular all through the world.

UberATG was embroiled in the contentious trade secret lawsuit with the Waymo, competing self-driving company owned by Google parent company Alphabet. This legal dispute has reached a surprise settlement in the last Friday after a week of courtroom dealings. Uber shuttered its self-driving truck unit and kept its division’s engineers work on the in-house lidar project. This company continues its overall efforts to develop the best-in-class nature of the software logistics platform for deliver companies known as the Uber Freight.

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