Toyota Looks to an Autonomous and Electric Future

Toyota announced creation of a $100 million venture fund to invest in autonomous driving and robotic technology start-ups as automakers increasingly push into the self-driving market. Toyota AI Ventures, a Silicon Valley-based subsidiary of Toyota, plans to invest the said amount into early-stage startups that are developing "disruptive" technologies in those fields, the company said. Jim Adler, managing director of Toyota AI Ventures, said in a statement, "Auto manufacturers must participate in the startup ecosystem to stay ahead of the rapid shift in the auto industry." The company added that the fund is part of Toyota's mission is a futuristic "discover what's next" phase. Toyota's AI venture fund has already invested in 19 different start-ups over the last two years, bringing its total funding commitment to autonomous driving technology to $200 million, the company further stated. Toyota AI Ventures looks for early-stage startups, across a range of industries, that are applying AI, data, and cloud technologies to tackle important problems and create new market opportunities.