Toyota’s Woven Planet Holdings has acquired Level 5, Lyft’s self-driving unit. Woven Planet’s deal brings scientists, software engineers, and researchers together as one.
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Tag: Woven Planet
On Thursday, Toyota Motor Corp.’s research division announced it would create an $800 million global investment fund. While important news, Toyota’s dispatch was expected. The business had previously mentioned it was assembling a new holding company called Woven in July, noting that the entity would be focused on heavily upon software development and finding new partners for its most advanced projects.
Most of those seem to be in support of the “mobility as a service” concept that seeks to remove customers’ ability to own vehicles. The rest are interested in promoting alternative energy solutions or social engineering how we’ll be living in the future via “smart cities.” The fund also seems to be helping replace Toyota Research Institute-Advanced Development (TRI-AD). In fact, the Japanese R&D arm was actually the one that announced the $800 million “global growth-stage investment fund” that officially creates Woven Capital.
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