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March 14 - 10:03
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SoftBank, Toyota set for $1bn investment in Uber's self-driving unit
Uber is keen to sell a stake in its self-driving unit. SoftBank and Toyota are leading a group of investors prepared to pay $1 billion for a share. The unit is in need of a cash injection as Uber looks to balance the books. Any deal would value the self-driving business between $5 billion and $10 billion. Last year, Toyota injected $500 million into Uber to fund its work in autonomous vehicles.
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