Toyota and NTT coinvest in smart cities

Toyota Motor Corp. and Japan’s largest telecom operator NTT have announced a capital tie-up to develop technology for smart cities. Each of the companies will purchase part of the other’s treasury stock to seal the deal.

Toyota will finalize its own smart city experiment, called Woven City, at the foot of Mount Fuji by end of 2021. This will be high-tech “village” where new solutions can be tested out, such as fully autonomous zero-emission vehicles. Toyota is already collaborating with Panasonic to co-develop IoT equipment that will be deployed in Woven City.

NTT is developing and rolling out technology specifically for smart cities; it already introduced a traffic monitoring system in Las Vegas and plans on expanding the service on a wider scale.

Picture Credit: Toyota Newsroom