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Toyota to invest $500m in Uber

Toyota is set to invest as much as $500 million in Uber.

The Japanese manufacturer - which is one of the world's best-known car brands - has announced the investment with the long-term ambition being to develop self-driving vehicles.

Shigeki Tomoyama, executive vice president of Toyota Motor Corporation, said: "This agreement and investment marks an important milestone in our transformation to a mobility company as we help provide a path for safe and secure expansion of mobility services like ride-sharing."

At the moment, Uber is considered to be lagging behind some its rivals in the field of self-driving cars.

What's more, Uber has recently decided to scale back its self-driving trials following a fatal crash in Tempe, Arizona.

Earlier this year, meanwhile, Uber and other ride-sharing apps were asked to offer women-only cars in London.

The city's transport authority, Transport for London (TfL), detailed its suggestion in a policy statement, saying operators should "allow passengers to choose who they share vehicles with (e.g. women-only vehicles)".

Helen Chapman, Interim Director of Licensing, Regulation and Charging, explained: "The private hire market is unrecognisable from when current legislation was introduced.

"The growth of ride-sharing and other advances mean that regulation has to be fit for the next decade and not the last."

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