Toyota banks on mobility technology for future growth

Published September 28, 2021 7:13 AM

By YURI KAGEYAMA
AP Business Writer

TOKYO (AP) — 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. Earlier, Toyota bought CARMERA Inc., a U.S. venture that specializes in sophisticated road mapping updates. It has not disclosed the value of either deal. Renovo develops automotive operating systems. Toyota sees that as essential for developing programmed vehicles so it can transition to “a mobility company” that includes more than just cars. Renovo means “new life” in Latin. Woven Planet is Toyota’s wholly owned subsidiary.

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