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 investment by the world’s largest carmaker, which has been criticised as being too slow and not aggressive enough when it comes to autonomous driving, was announced at an event in Silicon Valley this week. drives its self-driving technology "Mobility Teammate Concept" prototype car hands-free on the Metropolitan Expressway during the Toyota Advanced Technologies media preview in Tokyo, Japan, October 8, 2015. 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.
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 investment by the world’s largest carmaker, which has been criticised as being too slow and not aggressive enough when it comes to autonomous driving, was announced at an event in Silicon Valley this week. 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.