Toyota Motor Corp.

will invest about $500 million in Uber Technologies Inc. to jointly work on developing driverless vehicles, The Wall Street Journal reported on Monday, citing people familiar with the matter.

The investment values Uber at about $72 billion, the paper reported.

Earlier this year, a group of investors led by Japan's SoftBank Group Corp. invested in Uber, as Softbank became its largest shareholder.

Toyota and Uber were not immediately available for comment.


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Toyota So Desperate For Driverless Technology It Is Giving Uber Half A Billion Dollars To Catch Up

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