Toyota to Invest in Chinese Self-Driving Startup

Economy

Beijing, Feb. 27 (Jiji Press)--Toyota Motor Corp. <7203> plans to invest 400 million dollars in Chinese self-driving startup Pony.ai, officials at the Japanese automaker said Wednesday.

Through the investment, Toyota aims to accelerate development of autonomous driving technology in China.

Toyota and Pony.ai, which was established in 2016, announced their partnership in August last year.

Last autumn, the two companies started testing six Lexus SUVs using Pony.ai's self-driving system in Beijing and Shanghai.

Toyota's decision to invest in Pony.ai came as the automaker found the technological tie-up useful, the officials said.

[Copyright The Jiji Press, Ltd.]

Jiji Press