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Toyota, Denso, SoftBank Vision Fund invest USD1 billion in Uber’s autonomous unit

Uber ATG will use the fund to accelerate the development and commercialization of automated ride-sharing services

Toyota, Denso and SoftBank Vision Fund have agreed to jointly invest USD1 billion in Uber’s Automotive Technology Group (ATG), the Japanese automaker said in a press release on 18 April. The investment values the newly-formed Uber ATG entity at USD7.5 billion on a post-money basis.

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