Woven by Toyota, Inc.

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Woven by Toyota, Inc.
FormerlyToyota Research Institute – Advanced Development
TypePrivate
IndustryAutonomous vehicle technologies
Founded2018
HeadquartersTokyo, Japan
Area served
International
Key people
James J. Kuffner Jr., CEO
Websitewoven.toyota/en

Woven by Toyota, Inc., is the mobility technology subsidiary of Toyota, creating and managing Toyota's software for automated driving and safety. It has an investment fund, Woven Capital.

Description[edit]

Woven by Toyota, a subsidiary of the Toyota Motor Corporation, was formerly the Toyota Research Institute – Advanced Development (TRI–AD), which had been established by Toyota in 2018. It was Woven Planet Holdings in 2021 and in 2023 it became Woven by Toyota.[1]

Woven by Toyota develops and maintains a mobility software platform and technologies for Toyota Woven City in Japan. Woven by Toyota CEO and Representative Director James Kuffner said, "This is a pivotal moment for the industry when software can accelerate our progress toward an advanced mobility society. Woven by Toyota plays a critical role and our unique software platform will enable Toyota not only to build next generation BEVs, but also, expand the value of mobility across every aspect of our lives."[1]

Woven Capital[edit]

Woven Capital is an US$800m (€676m) global investment fund, to support the work of Woven by Toyota. The fund is for investment in driverless car technologies, including "autonomous mobility, automation, artificial intelligence, machine learning, data and analytics, connectivity, and smart cities".[2]

History[edit]

TRI–AD began in 2018, a joint venture among Toyota, Denso, and Aisin to unify and strengthen Toyota's software for automated driving and safety.[3] In January 2021, it became Woven Planet Holdings.[4] In April 2023, it was renamed to Woven by Toyota.[1]

In April 2021, Woven by Toyota (then Woven Planet) agreed to acquire Lyft's Level 5 self-driving vehicle division.[5] Financing included US$550 million in cash with $200 million paid upfront and $350 million of payments over five year period. Woven by Toyota CEO and Representative Director James Kuffner said the acquisition assembled "a dream team of world-class engineers and scientists to deliver safe mobility technology for the world".[6]

Woven by Toyota (then Woven Planet) also acquired CARMERA, Inc., in July 2021. CARMERA "specializes in sophisticated road mapping updates made cheaper and faster by using crowdsourced information obtained in real time from millions of net-connected Toyota vehicles".[7]

In September 2021, Woven by Toyota (then Woven Planet) acquired Renovo Motors, Inc., a Silicon Valley automotive operating system developer.[8]

See also[edit]

References[edit]

  1. ^ a b c "Woven by Toyota to Accelerate Toyota's Vision for Mobility". businesswire. April 10, 2023. Retrieved February 26, 2022.
  2. ^ "Woven Capital: Our Mission".
  3. ^ Whittaker, D. Hugh (December 15, 2021). "Beyond secular stagnation: A digital and green economy?". The Japanese Political Economy. 47 (4): 365–386. doi:10.1080/2329194X.2021.2012806. ISSN 2329-194X. S2CID 245257385.
  4. ^ "Toyota announces far-reaching Woven Planet technology research unit".
  5. ^ "Lyft sells self-driving division to Toyota subsidiary". Intelligent Transport. Retrieved February 27, 2022.
  6. ^ "Woven Planet, a subsidiary of Toyota, to acquire Lyft's self-driving car division". www.sec.gov. Retrieved February 26, 2022.
  7. ^ Kageyama, Yuri (April 10, 2023). "Toyota revs up its digital mapping subsidiary Woven Planet". AP NEWS. Retrieved April 15, 2023.
  8. ^ "Woven Planet Holdings, a Subsidiary of Toyota, Acquires Vehicle Operating System Developer Renovo Motors". Toyota Motor Corporation Official Global Website. Retrieved February 27, 2022.

External links[edit]