Toyota, NTT to make $3.3 billion R&D investment for AI self-driving, Nikkei reports
Toyota Motor and Nippon Telegraph and Telephone (NTT) are investing 500 billion yen ($3.26 billion) in AI research and development to enhance self-driving technology.
Toyota Motor and Japan's Nippon Telegraph and Telephone (NTT) are set to invest 500 billion yen ($3.26 billion) in research and development aimed at creating artificial intelligence software to enhance self-driving capabilities, according to a report by Nikkei on Tuesday. The partnership plans to develop automotive software that utilizes AI to anticipate accidents and take control of the vehicle. They aim to have a functional system in place by 2028, which they intend to offer to other automakers.
This investment comes as Japanese automakers seek to enter the rapidly growing advanced autonomous driving market, currently dominated by Tesla and various Chinese companies.
Since 2021, Toyota's Mirai fuel-cell vehicle has featured a hands-free driving function.
The two companies previously collaborated in 2017 to develop technology for 5G-connected cars and established a capital partnership in 2020 as part of a smart city initiative.
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