Autonomous Vehicle News
Toyota and Tokyo-based unit Woven Planet Holdings broke ground on the project in Shizuoka prefecture in February 2021. Toyota Chairman Akio Toyoda has personally invested JPY 5 billion (USD 34.5 million) in the venture. Woven Planet booked JPY 101.5 billion (USD 701 million) in extraordinary losses for the year ended March. Much of this stemmed from impairments and allowances for bad debt tied to Woven Alpha, a unit involved in developing Woven City as well as a vehicle software platform named Arene. Woven Planet was rebranded as Woven by Toyota on April 1 through a merger with Woven Alpha and Woven Core, a separate unit that developed self-driving technology.