TU-TESL

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According to foreign media, in April this year, on the eve of Uber's listing, its R & D technology department obtained a billion dollar financing from Toyota, Softbank and other groups, aiming to accelerate the development and commercialization of the shared services for automatic driving. In a document recently submitted to the U.S. Securities and Exchange Commission, Uber disclosed the specific source of the $1 billion capital: of which $400 million came from Toyota, $333 million from Softbank, and the remaining $267 million came from Japan's electric equipment company, and the transaction was completed in July this year. The research and development of automatic driving technology is a very time-consuming, energy consuming and capital consuming process. Uber's progress in the field of autonomous driving has not been satisfactory. In March last year's test in the United States, Uber even caused a fatal crash. On the one hand is the risk of research technology failure, on the other hand is the fierce competition from many competitors. In addition to Uber, Waymo, apple, and even many other companies are also developing self driving cars independently or jointly. Therefore, Uber does not guarantee that the $1 billion financing will bring the expected results, and admits that competitors may realize the commercialization of autonomous driving earlier. But Uber is still very optimistic about this technology and believes that autonomous driving will bring great changes to the entire automobile industry. In addition to online car hailing and self driving, Uber has also invested heavily in sharing bicycles, scooters and flying cars. In 2018, Uber's annual revenue was US $11.3 billion, an increase of 43% over 2017, with a loss of US $1.8 billion, an improvement over the loss of US $2.2 billion in 2017.