SAN FRANCISCO -- Automakers are putting the pedal to the metal with their investments into ride-hailing companies.
Last week, Toyota and Volkswagen announced two investments into popular ride-hailing companies. Toyota said that it had invested in Uber, the world's biggest ride-hailing company, for an undisclosed amount, and that the two companies were exploring trials in countries where ride-sharing is growing.
Gett, the app popular in European cities, also said it had established a partnership with the Volkswagen Group, in which the automaker would invest $300 million in the startup.
The alliances between the automakers and the startups are the latest in a string of pairings between technology companies and traditional automakers scrambling to position themselves in "mobility services." The services encompass self-driving cars, electric vehicles and ride-sharing services and are expected to shape the future of transportation.
In January, General Motors invested $500 million in Lyft, the app popular with American users, with a focus on developing networks of autonomous vehicles. Ford Motor is making over its Dearborn, Mich., headquarters into a Silicon Valley-like campus of green buildings connected by self-driving shuttles.
And just a few weeks ago, Fiat Chrysler and Google agreed to produce a test fleet of driverless minivans. Both BMW and Mercedes-Benz have started pilot ride-sharing services.
-- The New York Times