Toyota's research arm says to form an US$800m investment fund

[TOKYO] Toyota Motor Corp's research arm said on Thursday that it would create an US$800 million global investment fund.

The fund called Woven Capital is to invest in companies in areas including autonomous mobility and smart cities, Toyota Research Institute-Advanced Development said in a statement.

Earlier this year, the Japanese automaker unveiled a plan to build a prototype "city of the future" called Woven City at the base of Japan's Mount Fuji, powered by hydrogen fuel cells and functioning as a laboratory for autonomous cars.

REUTERS