Toyota Invests $2.8 Billion USD to Develop Self-Driving Cars

The company looks to develop commercially viable autonomous vehicles.

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Automotive
6,361 Hypes 6 Comments

Today, Toyota announced plans to join forces with two of its suppliers and fund a company dedicated to making the company’s dream of self-driving cars a reality. Dubbed the “Toyota Research Institute-Advanced Development,” or TRI-AD, it has pledged ¥300 billion JPY ($2.8 billion USD) towards the development of autonomous vehicles.

Self-driving automobiles are a priority for automobile manufacturers; Lexus and Tesla recently unveiled self-driving concepts, among other companies like Volkswagon, GM and Hyundai, as Google’s Waymo aims to launch a fleet of driverless taxis. Meanwhile, Toyota’s Tokyo-based TRI-AD will develop the Toyota Research Institute’s already-underway self-driving vehicles and driver assistance system experiments. The goal of the TRI-AD is to produce “fully-integrated, production-quality software for automated driving,” as Toyota puts it, with the eventual aim to develop the first-ever self-driving vehicle developed in-house.

Stay tuned for more information from the burgeoning company — see below for a breakdown of the TRI’s latest self-driving car. Toyota has been making money moves recently, sinking $69 million USD into a potential Uber rival.

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