TOKYO (dpa-AFX) - Toyota Motor Corp. plans to invest about $500 million in Uber Technologies Inc. as both companies intend to work jointly on driverless cars technology, according to WSJ, citing people familiar with the matter.
Toyota's investment values Uber at about $72 billion, the reports says, which is slightly higher than SoftBank Group's valuation of the ride-hailing company earlier this year.
Earlier this year, a group of investors led by Japan's SoftBank Group invested in Uber, which made Softbank its largest shareholder.
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