Toyota to form US$2.8bil venture with group cos for self-driving R&D

FILE PHOTO: The Toyota logo is shown at the Los Angeles Auto Show in Los Angeles, California, U.S., November 30, 2017. REUTERS/Mike Blake/File Photo

TOKYO: Toyota Motor Corp and group suppliers Denso Corp and Aisin Seiki Co said on Friday they would form a joint venture for researching and developing automated-driving technology, investing more than 300bil yen (US$2.8bil or RM11.09bil).

The Tokyo-based venture will be formed later this month and aim to employ about 1,000 workers, including new hires, the companies said in a statement.