Toyota, Pony.Ai to set up a JV for robotaxi

0
130
Toyota, Pony.Ai to set up a JV for robotaxi
Toyota, Pony.Ai to set up a JV for robotaxi

Robotaxi services have been launched in Beijing and Guangzhou by Pony.Ai, which has offices in China and the United States

A joint venture with an investment of 1 billion yuan ($139 million) to mass produce robotaxis will be set up between autonomous vehicle technology startup Pony.Ai and Japan’s Toyota Motor, the former said on Friday.

To be established this year, the new company, which will also involve Toyota’s joint venture with Chinese state-owned Guangzhou Automobile Group (GAC), will see GAC-Toyota produce cars that will use the Pony.Ai’s ride-hailing software, Pony.Ai said.

The venture marks a new development in the partnership between Pony.Ai and Toyota, which first teamed up in 2019. Since then, the Japanese automaker has invested hundreds of millions of dollars in Pony.Ai

Robotaxi services have been launched in Beijing and Guangzhou by Pony.Ai, which has offices in China and the United States.

Last month, Toyota said that as part of a broad pivot to electric vehicles as it seeks to catch up with increasingly aggressive local rivals, it planned to accelerate the local design and development of “smart cockpits” that meet the needs of the Chinese market.

Also readThe Transformative Power of Machine Learning on OTT Platforms

Do FollowCIO News LinkedIn Account | CIO News Facebook | CIO News Youtube | CIO News Twitter

About us:

CIO News, a proprietary of Mercadeo, produces award-winning content and resources for IT leaders across any industry through print articles and recorded video interviews on topics in the technology sector such as Digital Transformation, Artificial Intelligence (AI), Machine Learning (ML), Cloud, Robotics, Cyber-security, Data, Analytics, SOC, SASE, among other technology topics