Aug 28, 1:45 AM EDT Newsletter Signup BusinessTechnologyWorldNationalMedia & CultureOpinionSportsLuxury Business By Reuters 08/28/18 AT 1:08 AM Toyota Motor Corp will invest $500 million in Uber Technologies Inc to jointly work on developing self-driving cars, the companies said on Monday, a bid by both to catch up to rivals in the hotly competitive autonomous driving business.Toyota, one of the world's largest carmakers, and Uber [UBER.UL], the leading ride-hailing service, are widely seen as lagging the competition in developing self-driving cars.Their deal deepens an existing relationship and reflects CEO Dara Khosrowshahi's strategy of Uber developing autonomous vehicles through partnerships, rather than on its own.The deal also breathes new life into Uber's self-driving business. Since a self-driving Uber SUV killed a pedestrian in Tempe, Arizona, in March, Uber has removed its robot cars from the road, laid off hundreds of test drivers and shuttered operations in … [Read more...] about Toyota To Invest $500 Million In Uber For Self-Driving Cars
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Toyota, SoftBank Team Up To Develop Self-Driving Car Services
Oct 04, 6:26 AM EDT Newsletter Signup BusinessTechnologyWorldNationalMedia & CultureOpinionSportsLuxury Business By Naomi Tajitsu AND Sam Nussey 10/04/18 AT 3:26 AM Toyota Motor Corp (7203.T) and SoftBank Group Corp (9984.T) said they will team up to develop car services that rely on self-driving technology, such as hospital shuttles, as they envision a future in which fewer people drive their own vehicles.The partnership between Japan's top automaker and its most influential tech giant shows that even big well-funded players fear being left behind in the race to develop autonomous and connected cars."SoftBank alone and automakers alone can't do everything," said Junichi Miyakawa, chief technology officer at SoftBank Corp who will be CEO of the new company. "We want to work to help people with limited access to transportation."The announcement adds to a slew of deals and discussions aimed at sharing costs and securing expertise that has resulted in myriad pairings … [Read more...] about Toyota, SoftBank Team Up To Develop Self-Driving Car Services
Toyota to Recall 2.4 Million Hybrid Cars Worldwide for Stalling Risk
Toyota Motor Corp. says it has issued a recall for 2.43 million hybrid vehicles in Japan and elsewhere for potential problems with stalling. The company said Friday that in rare cases the vehicles might fail to enter a "failsafe" driving mode, lose power and stall. Power steering and braking would still work but a stall at a fast speed could increase risks of a crash. The recall applies to some Toyota Prius and Auris hybrids made from October 2008-November 2014. The vehicles were involved in an earlier recall that did not fix the previously unanticipated problem that is being addressed now, the company said in a statement. Toyota said it would update the software of the vehicles to remedy the problem for free. Top News Photos: Melania Trump on Her 1st Solo Global Trip Carolyn Kaster/AP The recall applies to 1.25 million vehicles in Japan, 807,000 in the U.S., 290,000 in Europe and 3,000 in China with the rest across the globe. Toyota said it had received three reports in … [Read more...] about Toyota to Recall 2.4 Million Hybrid Cars Worldwide for Stalling Risk
SC refuses to revoke Delhi ban on big cars of Toyota, Mercedes asking “are your vehicles emitting oxygen?”
“Are your vehicles emitting oxygen?” the Supreme Court today asked the lawyers for Toyota, Mercedes and Mahindra & Mahindra who want a ban on their larger diesel cars in Delhi revoked.The court for the time being refused to withdraw the ban and assured them a detailed hearing on a later dateThe Supreme Court had on December 15 banned registration of diesel vehicles having engine power of more than 2000 CC like the SUVs and luxury sedans till April 1 on a trial basis. The rich cannot be allowed to move around in expensive diesel vehicles when they can afford petrol vehicles, Chief Justice T S Thakur had noted. POLLUTION TAX“We will first have to assess the question if diesel cars should be allowed at all. Our directions presume diesel vehicles are polluting. For the time being our action is only on big diesel SUVs. We later plan to extend to anyone buying a diesel car. If it is correct that diesel pollutes more, a person who buys diesel vehicle … [Read more...] about SC refuses to revoke Delhi ban on big cars of Toyota, Mercedes asking “are your vehicles emitting oxygen?”
Ford, Nissan, Toyota Fined For Engaging In Unfair Trade Practices [Read Order]
The COMPAT (Competition Appellate Tribunal) has found Ford, Nissan and Toyota guilty of engaging in unfair trade practices due to their being in dominant position in respect to their respective spare parts, including diagnostic tools, technical information, fault codes, repair manuals etc., in the aftermarket.The tribunal imposed a penalty of 2% on average annual turnover of these companies of immediately preceding three years before the year of enquiry in pursuance of Section 27(b) of the Competition Act, 2002 (the Act).The case began when one independent supplier of spare parts, Mr. Shamsher Kataria, filed information in 2011 before the Commission requesting an investigation into alleged abuse of dominant position and anti-competitive agreement and practices adopted by the companies. The COMPAT had then found the conduct of the companies to be arbitrary, illegal and devastating to free and fair competition in 2014.Upon perusing the documents in the case of appeal filed by the … [Read more...] about Ford, Nissan, Toyota Fined For Engaging In Unfair Trade Practices [Read Order]