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Toyota, BMW partner with Israel's Cortica for AI venture

Toyota Motor Corp. and Bayerische Motoren Werke AG will form a joint venture with Israeli artificial intelligence company Cortica Inc. and invest undisclosed amounts in the tech firm, Reuters reported Sept. 3, citing a statement.

Cortica will work with both carmakers to develop artificial intelligence for their self-driving cars with Cartica AI, the company's recently spun-off automotive unit.

BMW and Toyota will also work with Cartica on development and distribution.

Cartica's other partners include German auto parts giant Continental AG.