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Toyota, Aisin Seiki, DENSO to form ¥300B JV for automated driving

Toyota Motor Corp. and Japanese auto parts makers Aisin Seiki Co. Ltd. and DENSO Corp. will form a new company in Tokyo that will focus on advanced development for automated driving, Toyota said March 2.

The new company, which will be named Toyota Research Institute-Advanced Development, or TRI-AD, will become the hub for building production-quality software for Toyota's automated driving program, according to the release.

TRI-AD is an offshoot of the Toyota Research Institute, which was established in 2016 in North America to conduct research in artificial intelligence, automated driving, and robotics.

Toyota, Aisin Seiki and DENSO plan to invest over ¥300 billion in the new venture, employing about 1,000 staff, including software engineers globally.

James Kuffner was named CTO of the new company, while TRI CEO Gill Pratt is the new chairman of TRI-AD's board of directors.

As of March 2, US$1 was equivalent to 105.54 Japanese yen.