Volkswagen has put $300m into Israeli taxi start-up Gett on the same day Toyota announced an undisclosed investment in US ride-hailing app Uber, in the latest sign of carmakers placing bets on the future of personal transport.
VW’s investment, which more than doubles the amount of funding raised by Europe’s biggest taxi-hailing app, comes months after General Motors injected $500m into US ride-hailing app Lyft.
Toyota’s investment in Uber came as the two groups agreed to provide leasing arrangements for Uber drivers. Toyota’s Prius hybrid has long been a popular choice for Uber drivers because of its fuel efficiency.
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