Society | Feb 09

Toyota takes on Uber with Y7.5 billion investment in Japanese taxi-hailing app

Toyota Motor Corp. said Thursday it will invest ¥7.5 billion in the developer of a taxi-hailing app to jointly create services that help cab drivers pick up customers more efficiently using artificial intelligence.

The automaker will acquire shares to be newly issued by JapanTaxi Co. through a third-party allocation later this month. The tech company is a subsidiary of major taxi operator Nihon Kotsu Co.

The companies said they will also collaborate in developing dashcams and tablets for taxis.

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