{"componentChunkName":"component---src-templates-blog-post-js","path":"/blog/financial-woes-deepen-for-toyota-smart-city-project-supported-by-former-ceo/","result":{"data":{"site":{"siteMetadata":{"title":"No Frills News"}},"contentfulNfnPost":{"postTitle":"Financial Woes Deepen for Toyota Smart City Project Supported by Former CEO","slug":"financial-woes-deepen-for-toyota-smart-city-project-supported-by-former-ceo","createdLocal":"2023-07-04 14:31:08.532015","publishDate":"2023-07-04 01:33:01+00:00","feedName":"Autonomous Vehicle News","sourceUrl":{"sourceUrl":"https://kr-asia.com/financial-woes-deepen-for-toyota-smart-city-project-supported-by-former-ceo"},"postSummary":{"childMarkdownRemark":{"html":"<p>Toyota and Tokyo-based unit Woven Planet Holdings broke ground on the project in Shizuoka prefecture in February 2021.\nToyota Chairman Akio Toyoda has personally invested JPY 5 billion (USD 34.5 million) in the venture.\nWoven Planet booked JPY 101.5 billion (USD 701 million) in extraordinary losses for the year ended March.\nMuch 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.\nWoven 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.</p>"}}}},"pageContext":{"slug":"financial-woes-deepen-for-toyota-smart-city-project-supported-by-former-ceo"}}}