Toyota Invests In Uber, Provide Lease Deals To Drivers

Toyota is investing in Uber, making it the newest auto company to put cash in a ride-hailing app.

The Japanese service did not state how much the financial investment is worth.

As part of the deal, Uber motorists can lease Toyota vehicles with money made from their driving.

Putting money in cab-hailing services can be a method for automakers to sell more cars. Earlier this year, General Motors Co. made investment of $500 million in Lyft.

Toyota making investment in Uber alongside Mirai Creation Investment Limited Partnership, a financial investment fund supported by Toyota and Japanese bank Sumitomo Mitsui Banking Corp.