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Toyota is spending $2.8 billion on self-driving car technology

The car giant is forming a venture called Toyota Research Institute-Advanced Development with suppliers Denso Corp and Aisin Seiki to develop automated-driving software, reports Reuters. 1,000 employees will work on the venture, with 90% of it held by Toyota and 5% each held by Denso and Aisin Seiki. Toyota’s move comes after tech companies like … Continue reading “Toyota is spending $2.8 billion on self-driving car technology”

Toyota is spending $2.8 billion on self-driving car technology
[Photo: courtesy of Toyota]
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The car giant is forming a venture called Toyota Research Institute-Advanced Development with suppliers Denso Corp and Aisin Seiki to develop automated-driving software, reports Reuters. 1,000 employees will work on the venture, with 90% of it held by Toyota and 5% each held by Denso and Aisin Seiki. Toyota’s move comes after tech companies like Waymo and Tesla are increasingly seen as out-innovating traditional automakers, especially when it comes to electric and self-driving vehicles.

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Michael Grothaus is a novelist, journalist, and former screenwriter. His debut novel EPIPHANY JONES is out now from Orenda Books. You can read more about him at MichaelGrothaus.com

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