Toyota and Panasonic create a joint IT-company for “smart” cities

On May 9, Japanese corporations Toyota Motor and Panasonic signed an agreement on the creation of a joint venture that will be engaged in the introduction of mobile technologies in cities. In a joint statement, the companies said that the new company, in which they would have equal shares of 50% each, would be able to implement Toyota’s initiatives in providing mobile services and Panasonic’s initiatives on updating urban lifestyle. Its activities will contribute to the growth and development of cities, improving their living standards. Faster implementation of Internet of Things technology is planned. In addition, mobility such as CASE, which represents connected autonomy, and MaaS, which provides IT services for connecting various vehicles, including public transport, will be developed. The companies also plan to integrate already operating divisions, which will allow them to strengthen their positions in the market of “smart” cities.

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