Toyota And Uber Sign Ride-Sharing Partnership

Toyota has inked a deal with Uber in the field of ride-sharing. The two partners have signed a memorandum of understanding to explore their collaboration.
2017 Toyota Prius Prime 1 photo
Photo: Toyota
They will start with trials in countries where ride-sharing is expanding, and will take into account regulations, business conditions, and customer needs.

Toyota will contribute with new leasing options provided through Toyota Financial Services. The latter will offer new plans, including some that will allow Uber drivers to cover their payments with earnings generated while driving the vehicle.

The initiative is built on Uber’s current “Vehicle Solutions” program, and includes a flexible leasing period, which is based on driver needs.

Toyota believes that this partnership will provide secure, convenient, and attractive mobility services to the public. At the same time, they get the chance to be involved in a new form of movement, as well as selling more vehicles.

The former happens without the risk of investing blindly in a start-up or starting an all-new company in the field, while the latter should come from the partner’s drivers.

The two companies, each a respectable giant in its segment, will also explore this collaboration through knowledge sharing. Both Toyota and Uber will develop in-car apps to support Uber drivers, as well as design a fleet plan to sell Toyota and Lexus cars to Uber. The last fleet might be used both by executives of the company, and regular drivers alike. Both partners will also think of new ways to provide new value to customers.

As we explained in a similar news regarding alternative mobility solutions, Toyota has said in its press release that this undisclosed investment is made to enter the world of mobility services while car usage trends are expected to go down. Like Volkswagen, Ford, and General Motors, Toyota wants to make sure it has a spot in the world of mobility, and signing a deal with one of the leading companies in the field is surely on point.
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About the author: Sebastian Toma
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Sebastian's love for cars began at a young age. Little did he know that a career would emerge from this passion (and that it would not, sadly, involve being a professional racecar driver). In over fourteen years, he got behind the wheel of several hundred vehicles and in the offices of the most important car publications in his homeland.
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