It is reported that TRI-AD, Toyota's advanced development arm, said it will create Woven Capital investment fund and invest US$880 million.

It is reported that the fund is to promote smart cities, connected transportation, autonomous driving and other fields.

The fund will also set up a holding company called Woven Planet Holdings Inc., and the new investment funds will become part of the holding company and conduct research and development in autonomous driving, automation and artificial intelligence.

The company expects to begin operations in January 2021.

This article comes from the author of Autohome Chejiahao and does not represent the views and positions of Autohome.