Four Toyota group firms to form JV for self-driving tech -Nikkei

JTEKT

24/08/2018 10:13

TOKYO, Aug 24 (Reuters) - Four Toyota Motor Corp  7203.T 
group firms will form a joint venture to combine their
self-driving technologies to better compete with automotive
component giants such as Bosch Group  ROBG.UL , the Nikkei
business daily reported on Friday.
    The new company, to be set up by Denso Corp  6902.T , Aisin
Seiki Co  7259.T , Jtekt Corp  6473.T  and Advics, will bring
together technologies such as braking and steering, the Nikkei
said.
    Denso is expected to hold the majority stake.
    The new firm, to be launched by the end of this year, will
primarily supply Toyota but also target European, U.S. and
Chinese automakers, the Nikkei said.
    Denso, Aisin and Jtekt declined to comment when contacted by
Reuters. Representatives for Advics could not be immediately
reached for comment.

 (Reporting by Makiko Yamazaki, Taiga Uranaka, Ritsuko Shimizu,
Yoshiyasu Shida)
 ((Makiko.Yamazaki@thomsonreuters.com; 81-3-6441-1039;))