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The
world's biggest-selling automaker confirmed in an email to
Reuters that it has invested in the San Francisco-based start-up
through its investment fund, Mirai Creation Investment Limited
Partnership, but declined to offer further details.
Earlier on Friday, Japan's Nikkei newspaper reported that
Getaround was believed to have received around $10 million from
the fund.
Established last year, the fund which also includes Sumitomo
Mitsui Banking Corporation (SMBC) as an investor, also invests
in artificial intelligence and robotics.
Getaround has been operating its on-demand car-sharing service
in San Francisco, Chicago, Washington D.C., and other U.S.
cities since 2013. It claims to have more than 200,000 members.
Automakers have been scrambling to partner with tech firms to
head off competition from self-driving cars and car sharing
services that threaten to eventually trim demand for car
ownership.
Toyota's investment follows similar moves this year by other
automakers who have partnered with car sharing service
providers, including General Motors Co and Lyft Inc, and
Volkswagen AG VOWG_p.DE and Israel's Gett.
Toyota already has a partnership with Uber Technologies Inc [UBER.UL],
through which the automaker leases vehicles to Uber drivers, and
plans to work with the ride-hailing service to accelerate mobile
technology research.
(Reporting by Naomi Tajitsu; Editing by Sam Holmes)
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