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Toyota, SoftBank In Talks To Invest $1B In Uber AV Unit

A group of investors led by SoftBank Group and Toyota is in talks to invest $1 billion or more into Uber’s self-driving vehicle unit, which would value the unit at $5 billion to $10 billion, said two people familiar with the talks.

The investment would provide a cash injection for Uber’s self-driving program that is costing the money-losing startup hundreds of millions of dollars without generating revenue.

Image Source: Google

The nascent technology came under greater scrutiny last year after one of Uber’s self-driving cars struck and killed a pedestrian in Arizona last year. Prosecutors last week declined to pursue criminal charges.

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