Despite its recent setbacks in the self-driving technology systems, world’s leading ride-hailing company, Uber has slated an investment of $150 million towards an engineering hub in Toronto and expand its self-driving operations.

Uber CEO Dara Khosrowshahi on Thursday acknowledged about the company’s investment of more than $150 million over a period of five years to encourage and boost its capabilities along with a new office opening in early 2019. The expansion would raise the headcount of the employees at the Toronto facility to 500.

It was just last year that the company opened a self-driving r&d centre in Toronto which was headed by the associate professor at the University of Toronto, Raquel Urtasun

It was just last year that the company opened a self-driving r&d centre in Toronto which was headed by the associate professor at the University of Toronto, Raquel Urtasun. While many of its rivals are still gearing up for the upcoming surge in futuristic technologies, Uber could be considered several steps ahead of its lagged rivals.

After the death of a pedestrian that was caused due to one of Uber’s self-driving prototypes, the company pulled back on its robot cars from the streets which caused a loss of over 100 jobs as well as its operations in Arizona.

After the death of a pedestrian that was caused due to one of Uber's self-driving prototypes, the company pulled back on its robot cars from the streets which caused a loss of over 100 jobs as well as its operations in Arizona

Relating to the same matter, AMENA had earlier reported on Toyota’s partnership with Uber which included an investment of $500 million. Toyota had earlier said that the investment would entail “mass-production” of autonomous cars that would be pressed into Uber’s ride-sharing network.

The deal valued Uber at $72 billion despite the company’s mounting losses. The valuation was up by 15% since its last investment in May but is on par with a previous valuation made in February, both 2018.