Toyota Latest Carmaker To Invest In Car-Sharing Company

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Following in the footsteps of rival carmakers BMW and General Motors, Toyota dipped its tires into the sharing game on Friday, announcing an investment in car-sharing company Getaround. 

Reuters reports that Toyota made an unspecified investment in the San Francisco-based startup through its Mirai Creation Investment Limited Partnership, which focuses on increasing the carmakers’ presence in artificial intelligence and robotics.

The investment, rumored to be around $10 million, marks the carmaker’s second when it comes to ride or vehicle sharing. The company already has a partnership with Uber that involves leasing vehicles to drivers.

Getaround launched in 2013 and has been offering on-demand car-sharing services in San Francisco, Chicago, Washington, D.C., and other cities ever since.

Friday’s investment comes after BMW launched its own service called ReachNow in Seattle in June. Before that, in January, General Motors introduced its own so-called personal mobility brand, Maven, in the U.S. and Germany.

Toyota invests in U.S. car-sharing service [Reuters]

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