• Major Companies Invest In Ride-Hailing Companies
  • May 27, 2016
  • Law Firm: Eversheds Sutherland (US) LLP - Washington Office
  • Two major car manufacturers have recently invested in ride-hailing companies, signaling their interest in and commitment to the mobility services market. Volkswagen AG is investing $300 million into Gett Inc., and Toyota Motor Corp. is investing in Uber Technologies Inc. Toyota’s partnership with Uber contemplates a new leasing model (allowing customers to cover lease payments for Toyota vehicles with Uber earnings), the development of in-car apps, and plans to establish a program to sell Toyota vehicles to Uber drivers. Through these investments, coming months after General Motors Co. partnered with Lyft Inc., these companies are positioning themselves to help shape the growing mobility services sector and to expand it in certain regions.