Toyota to Set Up Self-Driving Taxi Developer with Chinese Firm

Newsfrom JapanBeijing, Aug. 7 (Jiji Press)--Japan's Toyota Motor Corp. said it will set up a new firm that develops autonomous driving taxis and also offers services of such taxis jointly with Chinese self-driving technology company Pony.ai, in which Toyota invests. Aiming to gain an advantage in the global race to develop autonomous driving technology, the new company is expected to launch the taxi services in 2024, according to Toyota's announcement on Friday. Toyota and GAC Toyota Motor Co. will take a combined 50 pct stake. Toyota announced its investment in Pony.ai in 2020 and has conducted road tests of self-driving vehicles in Beijing and Shanghai. It plans to consider mass production of self-driving taxis in the future.