Japanese car manufacturer Toyota Motor Corporation and smartphone-based ride-sharing company Uber have signed a memorandum of understanding to explore ridesharing in countries where the concept is expanding.

This new partnership with Uber is a step for Toyota towards transforming itself from being a car manufacturer into an all-round mobility company.

The project will be initially launched on a trial basis after considering factors such as regulations, business conditions, and customer needs.

"Through this collaboration with Uber, we would like to explore new ways of delivering secure, convenient and attractive mobility services to customers."

As part of the partnership, Toyota Financial Services Corporation and Mirai Creation Investment Limited Partnership will be investing in Uber.

Mirai Creation Investment Limited Partnership is a future technologies investment fund set up by the SPARX Group, TMC and Sumitomo Mitsui Banking Corporation.

Toyota Motor Corporation senior managing officer and Connected Company president Shigeki Tomoyama said: "Ridesharing has huge potential in terms of shaping the future of mobility.

"Through this collaboration with Uber, we would like to explore new ways of delivering secure, convenient and attractive mobility services to customers."

Connected Company is an in-house company of Toyota Motor Corporation.

Uber chief business officer Emil Michael said: "We're excited that Toyota, the largest automobile manufacturer in the world, is making a strategic investment in Uber as part of a broader global partnership.

"Toyota vehicles are among the most popular cars on the Uber platform worldwide and we look forward to collaborating with Toyota in multiple ways going forward, starting with the expansion of our vehicle financing efforts."

The two firms will also explore collaboration in other areas such as developing in-car apps that support Uber drivers, sharing knowledge and accelerating research efforts, and setting up a special fleet programme to sell Toyota and Lexus vehicles to Uber drivers.