Self-driving startup secured $400m from Toyota Motors

Self-driving startup secured $400m from Toyota Motors, a Silicon Valley autonomous vehicle startup, has recently secured $400 million led by the Toyota Motors, Bloomberg reported.

With the help of this new investment,'s total funding has touched around $800 million.
This new funding has valued the company at around $3 billion.

According to the report,, both the firms were working together, and now with the help of this new investment, their relationship has become stronger. is also working on to co-develop mobility products like “mobility services” with Toyota. and Toyota are working together on autonomous driving testing since 2019. As of now, they have revealed a trial platform where they are going to test self-driving cars on roads in China’s two different cities, such as Beijing and Shanghai. had already started testing the robot taxis in Irvine, Beijing, Fremont, and Guangzhou in the year 2018. Furthermore, is the first startup that had revealed autonomous transportation by offering self-driving robotics cards across China.

Executive Opinion Chief Executive Officer James Peng said, "It will enable us to make the commercialization of autonomous-driving vehicles faster. We will put more money into building up the fleet.'

More on the Toyota autonomous vehicle program

Toyota Motor Corporation has also been in the development of its new car program. Moreover, it has not revealed anything about the program.

Additionally, Toyota has revealed some of the more information about the Toyota test vehicle and some configuration of its sensor they used, although very Toyota self-driven cards have been noticed.

Moreover, Toyota is in a plan of offering some limited ride-hailing samples in the Tokyo city center in the 2020 Summer Olympics.

Toyota previously mentioned that they are focusing more on a fully autonomous vehicle where no humans are required to drive under a restricted driving territory. Toyota's self-driving cars will be built-in with “Chauffeur” software.

In the month of January this year, Toyota infused $384 Million in Aerospace Company Joby Aviation.

PC: Pablo, Pixabay

Note: We at TechSutram take our ethics very seriously. More information about it can be found here.
Udit Agarwal Opinions expressed by techsutram contributors are their own. More details

Udit Agarwal is a Digital Marketer and a Content Marketing Specialist, He enjoys technical as well as non-technical writing. His passion and urge for gaining new insights on gadgets, smartphones and technology has led him to Techsutram. He quenches his thirst for technology through his action oriented writing skills and a profound ability to stay up to date with latest industry trends.

No comments:

Post a Comment

    Your valuable comments are welcome. (Moderated)