Toyota invests $400m in with latest driverless tech bet

Toyota invests $400m in with latest driverless tech bet IoT News is a practical resource providing news, analysis and opinion on the burgeoning Internet of Things ecosystem, from standardisation, to business use cases, and development opportunities. We take the best research and put our own spin on it, report from the frontline of the industry, as well as feature contributions from companies at the heart of this revolution.

Self-driving vehicle technology provider has secured $400 million (£308.35m) from Toyota, pushing the company’s valuation to more than £2.31bn.

The company is focusing on deepening and expanding its collaboration with Toyota in mobility services. They will further boost their joint efforts in self-driving technology development and mobility service deployment. The latest strengthened partnership between the two companies will allow deeper integration of's self-driving vehicle system with Toyota’s robust vehicle platforms and technologies. Both the firms are also looking beyond the vehicle itself to explore further possibilities on mobility services., which has focused on safety and reliability for self-driving mobility since its inception in 2016, has been testing its Robotaxi pilot service, called PonyPilot, in China, since 2018. and Toyota will continue to work jointly to deliver on their shared vision of a safe and sustainable mobility future. They will focus on offering meaningful societal benefit by leveraging the technologies, know-how, and services of each company.

This is by no means the only investment Toyota has made in this space. With an aim to move beyond just vehicle manufacturing, in July the company announced investment of £462.5m in Didi Chuxing, a China-based ridesharing company. Stephen Zhu, the SVP of DiDi said: “DiDi is committed to helping our cities achieve new energy and smart transportation goals with partners from home and abroad. We look forward to combining DiDi’s expertise in AI-based large-scale mobility operations and Toyota’s leading connected vehicle technology to build a next-generation intelligent transportation framework for sustainable cities.”

The year before, Toyota made an investment of £385.4m into Uber’s autonomous car initiative in order to help ensure both firms emerge as leaders in the space.

Interested in hearing industry leaders discuss subjects like this? Attend the co-located 5G Expo, IoT Tech Expo, Blockchain Expo, AI & Big Data Expo, and Cyber Security & Cloud Expo World Series with upcoming events in Silicon Valley, London, and Amsterdam.

View Comments
Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *