REUTERS: Uber Technologies Inc is nearing a deal with a group, including SoftBank Group Corp, to invest in its self-driving car unit to be valued at US$7.25 billion, the Wall Street Journal reported on Wednesday , citing people familiar with the matter.
SoftBank, Toyota Motor Corp and Japanese auto-parts supplier Denso Corp are expected to invest a total of US$1 billion as part of the deal, which could be announced in the next few days, the report said.SoftBank closed its US$8 billion investment in Uber in January 2018, which gave it a 16 percent stake in the ride-hailing company and made it the largest shareholder.
The Japanese technology investment fund also has investments in General Motors Co's self-driving car subsidiary Cruise. SoftBank and automaker Honda Motor Co have invested a total of US$5 billion for acquiring separate minority stakes in Cruise. Cruise has a value of more than US$14 billion despite no significant revenue and a product not ready for commercial launch.Advertisement
Toyota and Denso declined to comment, while Uber and SoftBank did not respond to Reuters' requests for comment.
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