Toyota has announced a strategic investment in Uber, with plans for a vehicle leasing scheme in which Toyota?s sales finance subsidiary will lease cars to Uber drivers, who will then pay leasing fees out of their Uber income. The alliance could also encompass a variety of other areas, including development of onboard apps for Uber drivers, sharing of R&D expertise, and fleet sales of Toyota and Lexus vehicles to Uber. We see substantial compatibility between Toyota?s extensive vehicle lineup, strong fundraising capability in its sales finance operation backed by a high credit rating, and solid product quality and Uber?s platform, name recognition, and development capabilities.
