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Toyota invests in Uber Taxi app

Toyota has made a strategic investment in Uber.

Teaming up with the app based taxi company, Toyota says its striving ‘for safer, more efficient and convenient mobility’. The two companies have entered into the partnership to expand trials of ridesharing in countries where the service is still growing.
Toyota and Uber will create new leasing options in which car purchasers can lease their vehicles from Toyota Financial Services and cover their payments through earnings generated as Uber drivers.
“Ridesharing has huge potential in terms of shaping the future of mobility. Through this collaboration with Uber, we would like to explore new ways of delivering secure, convenient and attractive mobility services to customers,” said Shigeki Tomoyama, senior managing officer of Toyota Motor Corporation and president of the Connected Company, one of Toyota Motor Corporation’s recently created in-house companies.
“We’re excited that Toyota, the largest automobile manufacturer in the world, is making a strategic investment in Uber as part of a broader global partnership. Toyota vehicles are among the most popular cars on the Uber platform worldwide and we look forward to collaborating with Toyota in multiple ways going forward, starting with the expansion of our vehicle financing efforts,” said Emil Michael, chief business officer of Uber.
Toyota and Uber also will explore collaboration in a variety of other areas, such as developing in-car apps that support Uber drivers, sharing knowledge and accelerating their respective research efforts, and establishing a special fleet program to sell Toyota and Lexus vehicles to Uber.

Meanwhile, the Volkswagen Group has also announced it has invested $300 million in on-demand mobility app ‘Gett’ - formerly GetTaxi. The group intends to generate a ‘substantial share of future sales revenue with new business models’.

The partnership is based on a joint growth strategy to expand on-demand mobility services in Europe.  Gett is described as one of the fastest growing ride hailing providers in the mobility-on-demand area.

"Alongside our pioneering role in the automotive business, we aim to become a world leading mobility provider by 2025," says Matthias Müller, Chairman of the Board of Management of Volkswagen Aktiengesellschaft. "Within the framework of our future Strategy 2025, the partnership with Gett marks the first milestone for the Volkswagen Group on the road to providing integrated mobility solutions that spotlight our customers and their mobility needs."

A key partner in this area will be Gett, available in more than 60 cities worldwide including London, Moscow and NYC and with development facilities in Israel. In London alone, half of all the black cabs use Gett, with VW saying the app's convenience and, at the same time, 'highly efficient mobility solution' is equally successful with consumers and businesses. It is already trusted by more than 4,000 corporations worldwide. The business model is based exclusively on licensed drivers who have a permit to carry passengers and are committed to providing safe, reliable mobility.

"The Volkswagen Group and Gett is a great strategic partnership. The pay-per-ride domain is growing rapidly. In that context, Gett provides VW with the technology to expand beyond car ownership to on-demand mobility for consumers and businesses," said Shahar Waiser, Gett's founder and CEO.

Through the Gett app consumers can book on-demand rides instantly or pre-book rides for later. Besides transportation, Gett covers delivery and logistics.

With the support of the Volkswagen Group, Gett will further strengthen its position in the market.