Japanese car maker Research Institute is to invest more than $2.8bn in a new venture that will focus on developing software for self-driving cars. The Toyota Research Institute Advanced Development project will involve around some 1,000 staff. Denso and Denso will each take a 5% stake. Toyota 's US -based Research Institute has previously collaborated with Uber and Toyota , and in February its venture capital unit co-led an $11.5m seed funding round for automated shuttle bus start-up May Mobility .
Japanese car maker Toyota is to invest more than $2.8bn in a new venture that will focus on developing software for self-driving cars. The Toyota Research Institute Advanced Development project will involve around 1,000 staff. Denso and Aisin Seiki will each take a 5% stake. Toyota's US-based Research Institute has previously collaborated with Microsoft and Uber, and in February its venture capital unit co-led an $11.5m seed funding round for automated shuttle bus start-up May Mobility.