Toyota Self-Driving Car Unit Agrees to Buy Map-Maker Carmera
July 14 2021 - 5:25PM
Dow Jones News
By Meghan Bobrowsky
Toyota Motor Corporation is strengthening its foothold in the
autonomous car driving industry, agreeing to acquire an artificial
intelligence map-making startup just months after buying Lyft
Inc.'s self-driving division for $550 million.
(www.wsj.com/articles/lyft-agrees-to-sell-autonomous-driving-unit-to-toyota-for-550-million-11619467500)
Woven Planet Holdings, the Toyota subsidiary focused on
autonomous technology, on Wednesday said it agreed to acquire
Carmera Inc., a U.S.-based AI company that makes real-time
high-definition maps.
"HD maps power a lot of advanced safety and automobile driving
technology products that we'll see in the future," Woven Planet
Chief Executive James Kuffner said in an interview.
The companies declined to provide deal terms.
Mr. Kuffner said he plans to keep growing Woven Planet, both
organically and through more mergers and acquisitions.
Carmera will be integrated into Woven Planet's existing mapping
operations. Mr. Kuffner said the deal would add technology and
talent and help accelerate product development.
Write to Meghan Bobrowsky at meghan.bobrowsky@wsj.com
(END) Dow Jones Newswires
July 14, 2021 17:14 ET (21:14 GMT)
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