Toyota is accelerating its transition from a traditional carmaker to one with a broader focus on mobility, with the announcement Thursday of a new $800 million global investment fund designed to back growth-stage companies that are developing innovative technologies and business models in autonomous mobility, automation, artificial intelligence, machine learning, data and analytics, connectivity, and smart cities....
The fund is one of the first major steps following Toyota’s late July announcement that it was forming a new holding company called Woven Planet Holdings, Inc., which will begin operations in January 2021 and will take the place of Toyota Research Institute - Advanced Development, Inc., which is located in Tokyo.
The announcement came from the company’s research institute which was founded in March 2018 to develop products that back Toyota’s stated goal of “mobility for all.”
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