Toyota has made its bet on the ride hailing market with a stake purchase in Uber and the announcement of a partnership that will let drivers lease cars.
US-based ride-sharing app developer Uber has secured an undisclosed sum from car manufacturer Toyota as part of a strategic partnership agreement, Bloomberg reported on Tuesday.
As part of the agreement, Toyota will offer leases to Uber drivers who can cover payments with their earnings. The offering comes at a time when regulators in California are exploring the possibility of banning of such leasing practices.
While financial details have not been disclosed, Toyota confirmed it has no interest in eventually acquiring…
