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Toyota announces investment in Uber to co-develop self-driving automobiles

Toyota, a Japanese car manufacturer, is going to make $500 mln investment in Uber, looking to scale joint activity and start driverless vehicle development.

This partnership would include mass-production of such cars, which would be used for Uber's service, according to the company. The move is considered to be an attempt to gain on competitors in the sector for the two firms.

Thus Uber is valued at around $72 bln, even though its losses grow. It is 15% more than its May investment, however, it equals a preceding valuation of February.

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