The ridesharing firm Uber has confirmed that its business focusing on developing the technologies needed for autonomous cars will become a stand-alone company after it has earned USD 1 billion in investments from Toyota, Denso car parts manufacturer, and investment fund SoftBank – Vision Fund.

The information provided by the company confirms an article from The Wall Street Journal published earlier this week that Uber was about to get important funding for its autonomous vehicle division – called Uber Advanced Technologies Group or UberATG, according to startupcafe.ro.

Uber CEO Dara Khosrowshahi announced on Twitter the investment, alongside a photo with him alongside executives from SoftBank, Toyota and Denso. According to Uber, the new investments values UberATG at USD 7.25 billion, according to TechCrunch.