Toyota will invest $ 800 million to part with the image of a conventional carmaker

Toyota will invest $ 800 million to part with the image of a conventional carmaker

September 14, 2020 0 By autotimesnews

The Japanese automaker is looking to move beyond its traditional carmaker role in large part due to falling sales amid the coronavirus. For example, Toyota has set up a fund to invest in startups focused on artificial intelligence, autonomous transportation and smart city technology.

Toyota is accelerating its transformation from a traditional automaker to a broader company. Just the other day, the company announced the creation of an international investment fund with assets of $ 800 million. It will seek and invest in growing companies developing innovative technologies and business models in autonomous transportation, automation, artificial intelligence, machine learning, data analytics, communications and smart cities. This will allow the company to step out of its role as an automaker.

The fund is not the only step taken by the company towards expanding its activities. At the end of July, Toyota also announced that it was creating Woven Planet Holdings, which will only become operational in January 2021 and will take the place of Toyota Research Institute’s research arm – Advanced Development, located in Tokyo and engaged in the development of unmanned vehicles.

It will develop, implement and scale automated driving technologies. It will also include Wowen Alpha, Inc. (“Woven Alpha”), which will explore new business opportunities and innovate projects beyond today’s Toyota Motor, such as Woven City, Arene and the Automated Mapping Platform.

Earlier, Toyota officials announced that the company plans to invest in the expansion of hydrogen fuel cell electric vehicles.

“In the future, Toyota will provide a variety of mobility services and transportation solutions for people around the world. We will transform Toyota into a mobility company that brings joy and freedom of movement to all of us, ”reads the press release.

Toyota Motor Corporation recently announced the launch of its online Toyota Used Car Store, a service that allows customers to order used vehicles online in Japan.

The new service provides customers with everything they need to buy a used car online, from a commercial offer to concluding a contract. The increased convenience for customers will allow you to place orders at any time, 24 hours a day, 365 days a year, without having to visit a dealership or store.

The whole process is quite simple – the client needs to go to the online store, choose the model he likes, choose a payment method and wait for a commercial offer from the dealer. After confirming the order, an e-mail with the agreement is sent to the buyer, and the contract and other registration documents are sent by mail. Delivery of the car (pick up from a dealer) is possible in about two to three weeks after registration documents are completed.