Day: June 25, 2020

Toyota has a stake in Uber, among other companies

TOKYO — Toyota holds a $293 million stake in Uber, as it partners with the ride-hailing company to further expand into new mobility services, Toyota’s latest corporate governance report released on Wednesday showed.

The Japanese automaker has also unloaded shares in some of its suppliers, adjusting its portfolio to reflect partnerships with rival automakers and technology firms as it transforms into a mobility services company, the report showed.

Reporting the total size of its stake in Uber, which became a listed company last year, Toyota said it held 10.25 million shares valued at 31.15 billion yen ($292.46 million) as of March 30. That is around 0.6% of Uber’s outstanding shares, according to a Reuters calculation.

Toyota, one of the world’s biggest automakers, said it had reduced its shareholdings in 24 companies and increased them in 10, including two

1984 VW Rabbit GTI Retro First Drive Review | Driving impressions, performance

Autoblog wasn’t around for the literal first drive review, but as they say, it’s better late than never. Take a trip down memory lane in our latest retro first drive.

When Volkswagen introduced the GTI to the United States, it was an oasis for enthusiasts caught in a desert of post-emissions malaise.  As American manufacturers scrambled to add power back to their pony and sports car nameplates, VW introduced a practical, nimble and efficient hot hatchback that could embarrass plenty of Detroit’s entry-level fun cars, even in a straight line.

Over the past few weeks, Volkswagen circulated a few gems from its heritage collection, including a Rabbit GTI. This 1984 model would have represented the second model year for the GTI here in the States, where it was locally assembled at a brand-new facility in Pennsylvania.

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