According to a securities report released on June 24, Toyota CEO Akio Toyoda is personally investing USD 45.3 million into Woven Planet Holdings, the smart city unit of his company spearheading autonomous driving research. Situated at the foot of Mount Fuji, the new company has two subsidiaries: Woven Core and Woven Alpha, focusing respectively on autonomous driving and connected vehicle software and high-definition maps.
Toyoda had expressed personal interest in Woven Planet last year. The project is part of Toyota company’s Woven City program, which aimed to build a future city powered by hydrogen fuel cells. It is run in collaboration with auto parts makers including Denso for autonomous driving R&D.