Toyota invests in Uber; Volkswagen backs Gett

Toyota Motor Corp. announced Tuesday a partnership with Uber Technologies in which the Japanese automaker will invest an undisclosed sum in the ride-hailing company and establish a car-leasing option for Uber drivers. Through the partnership, the two companies will "explore collaboration ... in the world of ridesharing in countries where ridesharing is expanding, taking various factors into account such as regulations, business conditions, and customer needs," Toyota said in a prepared statement. The partnership will also expand on Uber's vehicle-leasing program, which offers cars to its drivers through Enterprise Holdings Inc. -- the parent company of Enterprise Rent-A-Car, Alamo Rent a Car and National Car Rental. Both Uber and Toyota declined to comment on the size of Toyota's investment. A Toyota spokesman said both companies are "still in the early stages of developing [their] strategy" and, aside from the vehicle leasing option, no other specific plans have been made.