Toyota banks on mobility technology for future growth
ABC News
Japanese automaker Toyota is revving up acquisitions in mobility technology, adding Renovo Motors, a Silicon Valley software developer, to its Woven Planet team, which is working on automated driving
TOKYO -- Japanese automaker Toyota is revving up acquisitions in mobility technology, adding Renovo Motors Inc., a Silicon Valley software developer, to its Woven Planet team, which is working on automated driving.
The addition, announced Tuesday, follows the purchase earlier this year of CARMERA Inc., a U.S. venture that specializes in sophisticated road mapping updates made cheaper and faster by using crowdsourced information obtained from millions of net-connected Toyota vehicles.
The company has not disclosed the value of either deal.
Renovo develops automotive operating systems, which Toyota Motor Corp. sees as essential for developing programmed vehicles so it can transition to what it calls “a mobility company” that includes more than just cars. Renovo means “new life” or “renew” in Latin.
