TOKYO (AP) — Japan’s top automaker Toyota announced a partnership with U.S. autonomous driving technology company Waymo on Wednesday.
The move was somewhat anticipated, as the use of such technology speeds up around the world, and Toyota Motor Corp. has been aggressive about its intention to stay on top of such advances.
“Toyota is committed to realizing a society with zero traffic accidents and becoming a mobility company that delivers mobility for all. We share a strong sense of purpose and a common vision with Waymo in advancing safety through automated driving technology,” Toyota Executive Vice President Hiroki Nakajima said in a statement.
Waymo, which started out as the Google Self-Driving Car Project in 2009, now offers fully autonomous ride-hailing services in San Francisco, Phoenix, Los Angeles and Austin, and is rolling them out in other U.S. cities. It also has a partnership with ride-hailing leader Uber.
Toyota has built a city, complete with streets and housing, near Mount Fuji called Woven City to test robotics, artificial intelligence and autonomous zero-emissions transportation. The maker of the Camry sedan and Lexus luxury models tends to be very cautious about rolling out auto technology, seeking to protect its reputation as a safe and environmentally conscious manufacturer.
Tekedra Mawakana, co-CEO at Waymo, said partners were key to winning trust.
“This requires global partners like Toyota that share our commitment to improving road safety and expanding accessible transportation,” Mawakana said.
Details of the terms of the deal were not disclosed. Both sides said they were still exploring how their collaboration might develop into actual products.
Although there are various test versions of fully autonomous vehicles in Japan, they are for now limited to certain restricted areas. Other companies and automakers are working on similar services, including public transportation.
___
Yuri Kageyama is on Threads: https://www.threads.com/@yurikageyama
Before you consider Toyota Motor, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Toyota Motor wasn't on the list.
While Toyota Motor currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
