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Toyota Creates $2.8B Company to Develop Self-Driving Cars

Aisin Seiki, Denso founding partners of new venture.

by on Mar.02, 2018

Toyota debuted its updated autonomous vehicle, Platform 3.0, at the 2018 CES.

Around the world, automakers, suppliers and tech companies are scrambling to put a reliable, effective autonomous vehicle on the road. There is no clear path to the finish line, as such, Toyota is joining forces with two other suppliers to form a new $2.8 billion company to get the job done.

Called Toyota Research Institute-Advanced Development, or TRI-AD. The Japanese automaker is starting the company in conjunction with automotive suppliers Aisin Seiki and Denso. In addition to the $2.8 billion investment, the company plans to hire around 1,000 employees to develop software systems that can power fully self-driving vehicles.

Global News!

Toyota is in the process of selecting a location in Tokyo that is competitive in terms of accessibility and recruitment. (more…)