May 24, 2016 / 7:26 PM / a year ago

Toyota, Uber to explore ridesharing partnership

May 24 (Reuters) - Toyota Motor Corp said on Tuesday it will partner with on-demand ride company Uber to explore ridesharing and will make a strategic investment in the company.

As part of the partnership, Toyota would create new leasing options in which car purchasers can lease their vehicles from Toyota Financial Services and cover their payments through earnings generated as Uber drivers.

Toyota is making the strategic investment through its unit Toyota Financial Services Corporation and Mirai Creation Investment Limited Partnership. (toyota.us/1Ro2Upc) (Reporting by Radhika Rukmangadhan in Bengaluru; Editing by Sriraj Kalluvila)

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