Swift, the ride-hailing company, and Uber Technologies Inc. have teamed up to develop transportation solutions that can be used by the ride sharing services to deliver passengers and goods.
The two companies will share a $20 million investment over four years, the companies announced Wednesday.
Uber and Swift will provide engineering and development support, as well as data analytics, according to the announcement.
The firms will share their technology, which they said could be used in “the future to enhance and extend existing transportation solutions.”
Uber and the ride hailing service have become a big player in transportation since the launch of their self-driving cars in 2015.
The companies have raised $20 billion in financing to develop their transportation technology.
Swift is also a major shareholder in Lyft, a ride-sharing service that Uber acquired for $680 million in 2017.
Uber’s valuation was $17.2 billion at the time.
The combination of Uber and our existing network of suppliers, including the companies that will work with us on the new transportation solution, will allow us to build the new technology and scale it faster and better,” Swift CEO John Wiegley said in a statement.