A group of investors are preparing to sink a $1 Billion into ride sharing giant Uber’s autonomous vehicles unit.
According to reports, potential investors include international conglomerate SoftBank, automaker Toyota and auto parts supplier Denso. The investment accounts for a sizeable portion of the division’s $7.25 billion valuation. The report comes as Uber prepares for its initial public offering on the New York Stock Exchange.
Japan-based SoftBank is already Uber’s largest shareholder, with its $8 billion investment giving it a 16 percent share of the company. Uber’s much anticipated IPO comes on the heels of rival Lyft going public in March.