02/03/2018

Toyota invests heavily in automated-driving software

Toyota Motor Corp has said it will invest $2.8bn (£2.03bn) in automated-driving software in order to get ahead in the battle to produce automated cars.

The Tokyo-based venture, will be 90% held by Toyota with group suppliers Denso Corp and Aisin Seiki Co each taking five per cent.

'This company's mission is to accelerate software development in a more effective and disruptive way, by augmenting the Toyota Group's capability through the hiring of world-class software engineers,' James Kuffner, who will lead the venture, said in a statement.

Toyota is also investing $1bn in artificial intelligence and other technologies through its U.S.-based Toyota Research Institute, and has struck up technology partnerships with Microsoft Corp and Uber Technologies.