This content is not available in your region

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

Toyota group firms to set up JV for self-driving technology
FILE PHOTO: Visitors look at car models on the Toyota stand during the 88th Geneva International Motor Show in Geneva, Switzerland, March 7, 2018. REUTERS/Denis Balibouse/File Photo   -   Copyright  Denis Balibouse(Reuters)
Text size Aa Aa

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.

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.

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

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on for a limited time.