Toyota will start a new company this month that completely focuses on the development of self-driving car software. The Japanese automaker made that announcement on yesterday.
The company will collaborate with two Japanese car part makers. The three companies want to invest more than 300 billion yen (or 2.3 billion euro) in the new project. The name of the new company will be Toyota Research Institute-Advanced Development (TRI-AD). It will be situated in Toyota’s main headquarters in Tokyo, Japan.
In November of 2015 the largest Asian car maker also announced the founding of a new company that focused on letting cars drive autonomously. This company, with the similar name Toyota Research Institute, is located in the United States.
Toyota desires that the Japanese and United States companies will work closely together, to develop technology and products for self-driving cars. In the year 2020 the automaker plans to launch its first self-driving vehicle.
The new company TRI-AD will be officially founded later this month. Around 300 employees will join the organisation. That number must grow to one thousand in the coming years.