Ride-hail giant Uber Technologies is reported to be nearing a deal with a group of investors prepared to invest in its self-driving car unit.
The Wall Street Journal has reported that a group that includes SoftBank Group Corp is involved in a proposed investment in the unit – which is valued at US$7.25bn.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The Wall Street Journal report cited people familiar with the matter.
The report also said that SoftBank, Toyota and parts supplier Denso are expected to invest a total of US$1 billion as part of the deal, which could be announced in the next few days, the report said.
SoftBank has already invested US$8bn in Uber for a 16% stake – making it the largest shareholder. Uber is getting ready for its initial public offering (IPO) on the New York Stock Exchange.
Rival ride-hail firm Lyft recently went public and debuted on the Nasdaq.
