Toyota and Uber are forming a "strategic partnership" which will include an investment by the Japanese automaker in the San Francisco-based ride-sharing company. Under the agreement, Uber drivers can lease their vehicles from Toyota and cover their payments through earnings generated as Uber drivers. The leasing period will be flexible and based on driver needs. The two companies also agree to conduct ride-sharing trials in countries that have yet to establish the practice.

Uber drivers can lease their vehicles from Toyota

Toyota says it will invest an undisclosed sum in Uber, which is already the most valuable technology startup in the world. The partnership between Uber and Toyota would be the latest in a series of collaborations between established automakers and the ride-sharing startups that are disrupting the transportation world.

A partnership between Toyota and Uber could help the ride-sharing company solve a lingering question surrounding its self-driving ambitions, namely where its going to get a fleet of cars to equip with its autonomous technology. Toyota, which is the world's largest car manufacturer, is taking self-driving technology very seriously. It recently established the Toyota Research Institute to develop AI technologies in two main areas: autonomous cars and robot helpers for around the home.

To date, Uber was the world's loneliest ridesharing startup. Many of its rivals were pairing up with bigger, wealthier companies, like Lyft with General Motors, or Didi with Apple. Just today, Volkswagen announced it was investing $300 million in Gett, a black car-hailing service. Now it appears that Uber has finally found a suitor, which should improve the company's image on the corporate stage.

Toyota did not mention self-driving cars specifically, but did say it would explore with Uber the development of in-car apps that support Uber drivers, "sharing knowledge and accelerating their respective research efforts," and establishing a special fleet program to sell Toyota and Lexus vehicles to Uber.