Toyota signs ridesharing deal with Uber; VW with Gett
Toyota announced Tuesday that it plans a collaboration with ride-sharing leader Uber, the latest in a series of similar partnerships involving major automakers.
Toyota says it has signed a memorandum of understanding with Uber that will include trials in various countries where ride sharing is allowed. The deal comes with an investment from Toyota Financial Services and its Mirai Creation Investment Limited Partnership.
The announcement came the same day as one from Volkswagen and ride sharing outfit Gett. And it follows ridesharing announcements by General Motors and Ford, moves that basically signal the entire auto industry looking for arrangements to get ready for an era of shared transportation.
In Toyota's case, the Uber deal appears to be viewed as a great way to sell more cars. Toyota plans to create leasing options that will let Uber drivers buy their cars with loans from Toyota Financial, then make their 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. "Through this collaboration with Uber, we would like to explore new ways of delivering secure, convenient and attractive mobility services to customers."
Volkswagen is taking a different approach
The German automaker said Tuesday that it had invested $300 million in ride-hailing app Gett, marking the latest global vehicle company to take sides in the rapidly evolving ride-sharing business.
Gett currently operates in 60 cities, including New York, with a heavy emphasis on Europe. It provides on-demand rides in cars with licensed drivers and no surge pricing.
The move comes several weeks after General Motors invested $500 million in ride-sharing service Lyft, which also agreed to deploy self-driving Chevrolet Bolts in test markets. GM also launched a car-sharing service called Maven in certain urban markets.
Ford, meanwhile, recently created a mobility division, backed a ride-sharing service in London, and began testing its own apps.
Volkswagen said in a statement that it hopes "to generate a substantial share of sales revenue from such new business models" by 2025.
“Within the framework of our future Strategy 2025, the partnership with Gett marks the first milestone for the Volkswagen Group on the road to providing integrated mobility solutions that spotlight our customers and their mobility needs," Volkswagen CEO Matthias Mueller said in a statement.
Follow USA TODAY reporter Nathan Bomey on Twitter @NathanBomey and Chris Woodyard @chriswoodyard