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Toyota group firms to set up JV for self-driving technology

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Toyota group firms to set up JV for self-driving technology

Toyota group firms to set up JV for self-driving technology
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Denis Balibouse(Reuters)
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TOKYO (Reuters) - Four Toyota Motor Corp <7203.T> group companies said on Monday they will form a joint venture to develop software that manages brakes, steering and other components for automated driving.

Advics, Aisin Seiki Co <7259.T>, Denso Corp <6902.T> and Jtekt Corp <6473.T> aim to launch the company in March 2019 with Denso to be the biggest stakeholder, owning 65 percent, they said in a joint statement. https://bit.ly/2wh6DoJ

The Nikkei business daily had flagged the deal last week.

In addition, Aisin and Denso said they would set up a 50-50 joint venture to develop and sell electrification driving modules. They will focus on modules for hybrids, plug-in hybrids, fuel cell vehicles and electric vehicles, especially in China. https://bit.ly/2NjMEMx

(Reporting by Chris Gallagher and Taiga Uranaka, Editing by Sherry Jacob-Phillips)

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