Uber wins RM4.14bil investment from Toyota, SoftBank fund

Uber is racing against Google-owned Waymo and a host of other companies, including major automakers, to develop self-driving vehicles.

Japanese car giant Toyota and investment fund SoftBank Vision Fund unveiled an investment of US$1bil (RM4.14bil) in US company Uber to drive forward the development of driverless ride-sharing services.

The latest cash injection, expected to close in the third quarter this year, came amid fevered anticipation of Uber's public share offering which is expected to be the largest in the tech sector for years.