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Toyota to form €2.3 billion venture with Aisin and Denso
Toyota says it will establish a new company in Tokyo later this month. The new company – Toyota Research Institute-Advanced Development (TRI-AD) – aims to to accelerate its effort in advanced development for automated driving.
To make TRI-AD a reality, Toyota Motor Corporation (TMC), Aisin Seiki Co., Ltd. (Aisin), and Denso Corporation (Denso) have teamed up and signed a MoU regarding joint development of fully-integrated, production-quality software for automated driving. Going forward, the three companies will hold further discussions, aiming to conclude a concrete joint development contract. Together, TMC, Aisin and Denso plan to invest more than JPY 300 billion (EUR 2.3 billion) in TRI-AD. The new company is targeting a workforce of about 1’000 employees, including external recruitment and staff from TMC, TRI, and Toyota Group Companies Aisin and Denso. Toyota is currently in the process of selecting a location for the company in Tokyo. Back in 2016, Toyota established Toyota Research Institute, Inc. (TRI) in North America to conduct research in the areas of artificial intelligence, automated driving, and robotics. Dr. James Kuffner, currently TRI Chief Technology Officer, will lead TRI-AD as its CEO. "Building production-quality software is a critical success factor for Toyota's automated driving program," said Dr. Kuffner. "This company's mission is to accelerate software development in a more effective and disruptive way, by augmenting the Toyota Group's capability through the hiring of world-class software engineers. We will recruit globally, and I am thrilled to lead this effort." Aiming to strengthen its competitiveness even further, Toyota, together with Aisin and Denso, decided to establish the new company. TRI, TRI-AD and TMC will have a streamlined relationship, resulting in a fast-track, truly integrated development model. The key objectives of the new company include the following:
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