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