Friday, September 7, 2018

Toyota Makes Major Investment in Uber for Self-Driving Cars


Sudeep Moniz is a financial services professional who has been engaged in the energy sector after earning a bachelor's degree in operations research at Columbia University in 2010. In addition to his professional interests, Sudeep Moniz enjoys learning about automation and autonomous driving.

Automobile companies are steadily rolling out autonomous vehicle technology, but Toyota, in partnership with Uber, is hoping to bring autonomous ride sharing to market in the near future. The company recently announced it would invest $500 million in ride-sharing company Uber for the purpose of developing self-driving vehicle technologies.

The first self-driving fleet, known as Autono-MaaS (autonomous mobility as a service), is expected to be introduced in 2021 and will be based on technologies used for the Toyota Sienna minivan. Vehicles will also include light detection and ranging sensor systems and laser scanning as well as data collection and mapping capabilities. In addition to its investment in Uber, Toyota has allocated $2.8 billion for its own autonomous vehicle research and development programs.

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