Toyota plans to make a “strategic funding” in ride-sharing firm Uber as half of a bigger collaborative partnership. The deal will even see the automotive producer launching a leasing program via which Uber drivers can cowl their lease funds immediately by way of their earnings.
From Toyota:
As a part of at the moment’s partnership, the businesses will create new leasing choices by which automotive purchasers can lease their automobiles from Toyota Monetary Providers and canopy their funds via earnings generated as Uber drivers. The leasing interval shall be versatile and based mostly on driver wants. This initiative builds on Uber’s present Car Options program.
Toyota notes that the 2 corporations will discover a lot of totally different areas as a part of the collaboration, together with a fleet program to promote Toyota and Lexus automobiles to Uber, and an effort to develop in-car apps for Uber drivers. The monetary phrases of the funding weren’t divulged.