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)
