SAN FRANCISCO (CBS/AP) — Toyota is investing in Uber, making it the latest car company to put money in a ride-hailing app.
The Japanese company did not say how much the investment is worth.READ MORE: Local Puppies Making Their Debut At The Puppy Bowl XVIII
As part of the deal, Uber drivers can lease Toyota vehicles with money earned from their driving.
Uber is based in San Francisco.READ MORE: Mulberry Man Fatally Shot On Sunday Evening
Investing in cab-hailing services can be a way for automakers to sell more cars. Earlier this year, General Motors Co. invested $500 million in Uber rival Lyft.
Toyota is investing in Uber alongside Mirai Creation Investment Limited Partnership, an investment fund backed by Toyota and Japanese bank Sumitomo Mitsui Banking Corp.MORE NEWS: Over $23,000 Raised From Betty White Challenge At Humane Society of Tampa Bay
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