Four Toyota Group Firms to Form JV for Self-Driving Tech: Nikkei

August 25, 2018 Updated: August 25, 2018

Four Toyota Motor Corp <7203.T> group firms will form a joint venture to combine their self-driving technologies to better compete with automotive component giants such as Bosch Group [ROBG.UL], the Nikkei business daily reported on August 24.

The new company, to be set up by Denso Corp <6902.T>, Aisin Seiki Co <7259.T>, Jtekt Corp <6473.T> and Advics, will bring together technologies such as braking and steering, the Nikkei said.

Denso is expected to hold the majority stake.

The new firm, to be launched by the end of this year, will primarily supply Toyota but also target European, U.S., and Chinese automakers, the Nikkei said.

Denso, Aisin, and Jtekt declined to comment when contacted by Reuters. Representatives for Advics could not be immediately reached for comment.

By Makiko Yamazaki, Taiga Uranaka, Ritsuko Shimizu, Yoshiyasu Shida.