TM Toyota Motor Corporation

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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