Toyota and Volkswagen invest in ride-hailing apps: 'the future of mobility'

Two major car companies announced on Tuesday investments in ride-hailing apps, signaling both a growing role for on-demand cars and a new groundwork for app-enabled self-driving fleets. Toyota will be investing and partnering with Uber, and Volkswagen is putting 300m into Tel Aviv-based ride-sharing app called Gett. In January, General Motors, a longtime Toyota rival, announced that it was putting 500m into Lyft, Uber's most direct competitor. "Ride-sharing has huge potential in terms of shaping the future of mobility," said Shigeki Tomoyama, senior managing officer of Toyota Motor Corporation and president of the Connected Company, a new group within Toyota. "Through this collaboration with Uber, we would like to explore new ways of delivering secure, convenient and attractive mobility services to customers."