Uber plans to kick off IPO in April

GettyUber CEO Dara Khosrowshahi

Under the terms of the proposed deal, investors would purchase from a pool of Uber stock specifically earmarked for the self-driving technologies unit.

Investors including Japanese technology giant Softbank are closing in on a deal to invest up to $1bn (£750m) in Uber's self-driving auto business. Apart from SoftBank, the investor consortium includes an automaker, they added.

That would give the unit a value of $5 billion to $10 billion, according to two people who told Reuters. Uber would maintain majority control of the self-driving arm and would use the investment to fund its research and development.

Uber, a global logistics and transportation company most recently valued at $76 billion in the private market, is seeking a valuation as high as $120 billion, although some analysts have pegged its value closer to $100 billion based on selected financial figures it has disclosed.

The most tragic event happened a year ago, when an Uber self-driving vehicle struck and killed a pedestrian in Arizona. But he has indicated a desire to continue developing autonomous cars in the hope that Uber will lead the way to a possible future where robots replace human drivers.

Borough MP resigns junior shadow minister role over Brexit second referendum vote
Local activists had wanted to deselect him as their candidate in the next general election because of his stance on Brexit . Mr Farage said: "If politicians think they can walk all over us, then we're going to march back and tell them they can't".

SoftBank is already a major investor in Uber after it acquired about 17.5 percent of the ride-hailing firm's stock previous year at a significant discount. This week, TechCrunch reported that at one point Uber was spending $20 million per month on its self-driving division, with the ambitious goal of having 75,000 autonomous vehicles on the road by this year.

The news also comes at the heels of SoftBank's aggressive strategy of heavily investing in AV programs across the industry.

Finance and technology enthusiasts will finally get to witness one of Silicon Valley's most highly anticipated initial public offerings as early as next month when ride-hailing platform Uber finally goes public.

"Toyota constantly reviews and considers various options for investment, but we do not have anything to announce about a further investment in Uber at this time", a Toyota spokeswoman said on Wednesday.

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