Toyota deal enables automaker to sell more cars to Uber drivers

Toyota deal enables automaker to sell more cars to Uber drivers

Toyota has found a way to enter the ridesharing arena and also sell more cars. The automaker signed a strategic deal with ridesharing company Uber for an unspecified amount, allowing the companies to run trials in several countries.

Part of the investment comes from Toyota Financial Services. The companies are working on a plan that will allow Uber drivers to lease a Toyota through the captive and make the payments from their Uber earnings.

–Ridesharing has huge potential in terms of shaping the future of mobility,” said Shigeki Tomoyama, senior managing officer of Toyota Motor and president of the Connected Company, a Toyota subsidiary.

Earlier in the week, Volkswagen announced a $300 million investment in the ridesharing app Gett, which operates in 60 cities, including New York.