Taken for a ride

24 May 2016 By Jeffrey Goldfarb Follow @jgfarb

The Japanese automaker’s deal with Uber and its German rival’s with Gett come after GM invested in Lyft and Fiat Chrysler hooked up with Google. Each can learn from the other, but the technologists see opportunity while the manufacturers have more to fear about their fate.

This content is for Subscribers only

Context News

Toyota Motor said on May 24 it had made a “strategic investment” of undisclosed size in Uber Technologies as part of a deal where the two companies will explore various ways to collaborate on ride-sharing.

Under the agreement, they will roll out options for car buyers to lease Toyota vehicles and cover their payments with earnings from being Uber drivers.

Also on May 24, Volkswagen said it had made a $300 million “strategic investment” in Gett, a rival ride-hailing startup.

Volkswagen said its goal is to “generate a substantial share of sales revenue” by 2025 from such new business models.

Email a friend

Please complete the form below.

Required fields *