Toyota maintains links with Uber despite reducing its stock by half.

Toyota Motor Corp in Japan has reduced its stake in Uber Technologies Inc by about half . The Japanese automaker said the company continues to maintain their alliance with Uber .

Toyota Motor Corp in Japan has reduced its stake in Uber Technologies Inc by about half after the ride-hailing company divested of the central hub of their collaboration, the autonomous driving system.Toyota spokeswoman Shiori Hashimoto said in a statement that the company continues to maintain their alliance and that the development of vehicles related to automated driving was one of the main objectives of the company's investment.Toyota revealed in a regulatory filing on Thursday that the world's largest automaker by volume held 5.13 million Uber shares as of March 31, down from 10.25 million shares it held a year earlier.Uber's current interest was valued at 22.4 billion yen ($165.51 million), according to the Japanese automaker.

In 2018, Toyota invested $500 million in Uber to jointly develop self-driving cars, as both the firms looked to catch up to competitors in the fiercely competitive autonomous driving market.Uber sold its autonomous driving unit to Aurora Innovation Inc in 2020, however, in an attempt to reach its profit goals.Aurora announced in March that it and Toyota had started testing an autonomous ride-hailing system in Texas with two safety agents and no passenger on board.Uber was not immediately available for comment.