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Toyota's research arm says to form an $800 million investment fund - Metro US

Toyota’s research arm says to form an $800 million investment fund

A man walks past a Toyota logo at the Tokyo Motor Show

TOKYO (Reuters) – Toyota Motor Corp’s <7203.T> research arm said on Thursday that it would create an $800 million global investment fund.

The fund called Woven Capital is to invest in companies in areas including autonomous mobility and smart cities, Toyota Research Institute-Advanced Development said in a statement.

Earlier this year, the Japanese automaker unveiled a plan to build a prototype “city of the future” called Woven City at the base of Japan’s Mount Fuji, powered by hydrogen fuel cells and functioning as a laboratory for autonomous cars.

(Reporting by Ju-min Park; Editing by Christian Schmollinger)

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