Woven by Toyota, Inc.

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Woven by Toyota, Inc.
Formerly
  • Toyota Research Institute – Advanced Development
  • Woven Planet Holdings
Company type Private
Industry Automotive
FoundedJanuary 2021;4 years ago (2021-01)
HeadquartersTokyo, Japan
Area served
International
Key people
Hajime Kumabe, CEO
Daisuke Toyoda, Senior Vice President
Owner Toyota Motor Corporation (100%)
Website woven.toyota/en

Woven by Toyota, Inc. is the mobility technology subsidiary of Toyota Motor Corporation, creating and managing the software for Toyota's vehicle operating system, [1] automated driving, and safety. It has founded and managed an investment fund, Woven Capital.

Contents

Description

Woven by Toyota, a subsidiary of the Toyota Motor Corporation, which was formerly known as the Toyota Research Institute – Advanced Development (TRI–AD), was established by Toyota in 2018. In 2021, it was renamed to Woven Planet Holdings, Inc., and in 2023, it became known as Woven by Toyota, Inc. [2]

Woven by Toyota develops and maintains a mobility software platform and technologies for Toyota Woven City in Japan. Woven by Toyota's former CEO and Representative Director, James Kuffner, stated, "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 battery electric vehicles, but also to expand the value of mobility across every aspect of our lives." [2]

Woven Capital

Woven Capital is a US$800 million (€676 million) global investment fund that was established to support the work of Woven by Toyota. The fund's money is dedicated to investment in driverless car technologies, including "autonomous mobility, automation, artificial intelligence, machine learning, data and analytics, connectivity, and smart cities." [3]

History

Toyota Research Institute – Advanced Development (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. [4] James Kuffner became the CEO.

In January 2021, Woven Planet Holdings, Inc. was established. [5]

In April 2021, Woven by Toyota (then Woven Planet Holdings) agreed to acquire Lyft's Level 5 self-driving vehicle division. [6] 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." [7]

In July 2021, Woven by Toyota (then Woven Planet Holdings) also acquired CARMERA, Inc., a company that "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." [8]

In September 2021, Woven by Toyota (then Woven Planet Holdings) acquired Renovo Motors, Inc., a Silicon Valley developer of automotive operating systems. [9]

In April 2023, Woven Planet Holdings, Inc. was renamed to Woven by Toyota, Inc. [2]

In October 2023, Hajime Kumabe was named the CEO of Woven by Toyota. [10]

Daisuke Toyoda, the eldest son of Akio Toyoda, the chairman of Toyota Group, serves as a founding member and senior vice president of Woven by Toyota. [11]

See also

References

  1. ↑ Arene - Woven by Toyota
  2. 1 2 3 "Woven by Toyota to Accelerate Toyota's Vision for Mobility". businesswire. April 10, 2023. Retrieved February 26, 2022.
  3. ↑ "Woven Capital: Our Mission".
  4. ↑ 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.
  5. ↑ "Toyota announces far-reaching Woven Planet technology research unit".
  6. ↑ "Lyft sells self-driving division to Toyota subsidiary". Intelligent Transport. Retrieved February 27, 2022.
  7. ↑ "Woven Planet, a subsidiary of Toyota, to acquire Lyft's self-driving car division". www.sec.gov. Retrieved February 26, 2022.
  8. ↑ Kageyama, Yuri (April 10, 2023). "Toyota revs up its digital mapping subsidiary Woven Planet". AP NEWS. Retrieved April 15, 2023.
  9. ↑ "Woven Planet Holdings, a Subsidiary of Toyota, Acquires Vehicle Operating System Developer Renovo Motors". Toyota Motor Corporation Official Global Website. Retrieved February 27, 2022.
  10. ↑ "Woven by Toyota announces changes to its board of directors". woven.toyota. Retrieved October 4, 2023.
  11. ↑ NEWS, KYODO. "Toyota president's son to wed ex-member of Japan's Takarazuka troupe". Kyodo News+.
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