In brief: SoftBank, Toyota in talks for $1b investment in Uber

• A group of investors led by SoftBank Group and Toyota Motor are in talks to invest US$1 billion or more into Uber’s self-driving vehicle unit, which would value the business at US$5 billion to US$10 billion, according to sources.
• Uber, which lost about US$3.3 billion last year, is betting on a transition to self-driving cars to eliminate the need to pay drivers.
• The investment would provide a cash injection for the company’s self-driving program, which is currently not generating revenue.
• It could also help underscore the ride-hailing firm’s value as it prepares for a stock market debut, where the company’s value could top US$100 billion.

Source: Reuters