This is the first step of establishing and bringing together the people. Obviously building technology and product requires people, and that s much what this acquisition is about, Woven Planet chief executive James Kuffner told reporters on Tuesday.
It will also give Toyota a direct presence in Silicon Valley and London and expand smart-city project Woven City at the base of Japan s Mt. Fuji, effectively helping it ride through dramatic changes expected in the mobility industry and major centres, he said.
For Lyft, the deal will allow it to become profitable sooner and takes away the burden and risk of developing a costly technology that has yet to enter the mainstream.
Toyota buying Lyft s self-driving technology unit for $550-million
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Toyota s acquisition of Lyft s self-driving unit bolsters its automation ambitions
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His appointment, first reported by Reuters this week, comes as Honda races to catch up in the field of all-electric cars and faces competition from new entrants and tech giants such as Tesla, Apple and Amazon.
“He has been looking into the future, a direction that Honda should be taking,” Hachigo told the conference, attributing Mibe’s expertise in environmental technology and energy and his attentiveness to changes as reasons for the choice.
Hachigo will remain on the company board, Honda said in a statement.
Traditionally known for its fuel-efficient internal-combustion engines, Honda launched its first mass-produced all-battery vehicle last August.
Chief executive of Japan s Honda to step down, hand reins to R&D chief
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