Toyota halves stake in Uber, but looks to maintain ties

The Uber Technologies Inc. application is displayed in the App Store on an Apple Inc. iPhone in an arranged photograph taken in Arlington, Virginia, U.S. on Monday, April 29, 2019. Photographer: Andrew Harrer/Bloomberg

Japan’s Toyota Motor Corp has cut its stake in Uber Technologies Inc by about half after the ride-hailing giant divested the autonomous driving unit at the centre of their collaboration.

“The development of vehicles related to automated driving was one of the main objectives of Toyota‘s investment,” Toyota spokesperson Shiori Hashimoto said in a statement, adding that the company still aims to maintain their alliance.

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