TOKYO (Reuters) – Toyota Motor Corp and group suppliers Denso Corp and Aisin Seiki Co said on Friday they would form a joint venture for researching and developing automated-driving technology, investing more than 300 billion yen ($2.8 billion).
FILE PHOTO: An onboard display monitor shows other vehicles as a staff member of Toyota Motor Corp 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. REUTERS/Yuya Shino/File Photo
The Tokyo-based venture will be formed later this month and aim to employ about 1,000 workers, including new hires, the companies said in a statement.
James Kuffner, chief technology officer of U.S.-based Toyota Research Institute, will head the company, to be called Toyota Research Institute-Advanced Development and held 90 percent by Toyota.
Reporting by Minami Funakoshi; Editing by Chang-Ran Kim
