Hyperdrive
Betting Like SoftBank Drives Toyota’s Value Up by $19 Billion
- Carmaker is backing ride-hailing, batteries, fuel cells
- Its goal is transportation on demand, regardless of vehicle
This article is for subscribers only.
Everywhere you turn in the transportation industry these days, Toyota Motor Corp. seems to already be there.
From batteries and self-driving vehicles to lunar rovers and ride-hailing companies, the world’s second-biggest automaker is on an investment spree, pouring more than $3 billion into deals and partnerships in recent years. Toyota, which reports first-quarter results Friday, is placing bets across the board, mimicking technology investors like SoftBank Group Corp.