Published:  12:28 AM, 15 March 2019

Investors could pump $1b into Uber cars

A group of investors including SoftBank Group is in talks to invest $1 billion or more into Uber's self-driving car unit, The Wall Street Journal reported on Wednesday.Word of a potential infusion of cash valuing the Uber autonomous vehicle division at from $5 billion to $10 billion comes as the ride-hailing startup steers toward a hotly-anticipated stock market debut.

Under terms being discussed, SoftBank's Vision Fund and other investors, including a car maker, would take a minority stake in Uber's self-driving vehicle unit, according to the Journal. Led by Japan's Masayoshi Son, the Vision Fund is heavily invested by Saudi Arabia.

The Journal described the "late-stage" talks as fluid, with the possibility a deal might not be reached. Uber has been in a race with Google-owned Waymo and a host of other companies, including major automakers, to develop self-driving vehicles.

---AFP, San Francisco

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