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
Toyota vehicles at a showroom in Toyota City.Photographer: Akio Kon/Bloomberg
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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.