Toyota to invest $500m in Uber in driverless car deal

Japanese carmaker Toyota is to invest $500m (£387m) in Uber and expand a partnership to jointly develop self-driving cars. The firm said this would involve the "mass-production" of autonomous vehicles that would be deployed on Uber's ride sharing network. It is being viewed as a way for both firms to catch up with rivals in the competitive driverless car market. The deal also values Uber at some $72bn, despite its mounting losses. That is up 15% since its last investment in May but matches a previous valuation in February.