SoftBank is highly likely to go ahead with its plan to invest $10 billion in Uber, the ride-hailing app company, according to a report on CNet.com.
An Uber representative quoted by CNet says: “We’ve entered into an agreement with a consortium led by SoftBank and Dragoneer on a potential investment.
“We believe this agreement is a strong vote of confidence in Uber’s long-term potential. Upon closing, it will help fuel our investments in technology and our continued expansion at home and abroad, while strengthening our corporate governance.” Continue reading SoftBank to invest $10 billion in Uber
Uber Technologies’ drive to become a major player in the trucking business is off to a bumpy start, with analysts and industry executives questioning what exactly the company can bring to the sprawling $700-billion industry.
The San Francisco ride-services giant had planned to disrupt freight hauling by offering a complete package of trucking technology including self-driving trucks and smartphone-based logistics services.
Volvo Cars, the Swedish car maker, and Uber, the ride-sharing company, are to join forces to develop next-generation autonomous driving cars.
The two companies have signed an agreement to establish a joint project that will develop new base vehicles that will be able to incorporate the latest developments in advanced driving technologies, up to and including fully autonomous driverless cars.
Toyota and Uber have entered a partnership with a view to developing driverless taxis of the future, although the initial developments will be in ridesharing services.
The two companies say they will explore collaboration, starting with trials, in the world of ridesharing in countries where ridesharing is expanding, taking various factors into account such as regulations, business conditions, and customer needs.