Toyota and NTT officially announce capital tie-up "Smart City" promotion March 24 17:04
Toyota and NTT officially announced on April 24 that they have entered into a capital alliance to invest approximately 200 billion yen. The aim is to promote the concept of a “smart city,” a state-of-the-art urban development that is being actively developed worldwide by strengthening the unusual relationship between Japan's leading companies in the automotive and communications industries.
According to the announcement, Toyota and NTT entered into a capital alliance on the 24th. The two companies will invest approximately 200 billion yen next month, with Toyota acquiring approximately 2% of NTT's shares and NTT acquiring approximately 1% of Toyota's shares.
On top of that, we will strengthen our business relationships and combine the technologies of next-generation vehicles such as Toyota's autonomous driving with NTT's advanced telecommunications infrastructure technologies, leading to the development of cutting-edge towns that are becoming active worldwide. The company plans to promote the concept of “smart city”.
The two companies will work together to create a foundation that supports lifestyles, business, and people's mobility in a smart city, and Toyota will incorporate it into a future city that will start construction next year in Susono City, Shizuoka Prefecture.
The company will expand the technologies and know-how it has cultivated to other cities worldwide.
In the automotive industry, competition for advanced technologies called "CASE" such as autonomous driving and electrification is intensifying, and in the telecommunications industry, competition for communication services capable of instantly exchanging large amounts of information is intensifying worldwide. These are all important technologies that are essential for promoting smart cities.
As Japan's leading companies take steps to strengthen unusual relationships beyond the industry, we want to take the lead in cutting-edge town planning with a view to utilizing the next generation of 5G communication standards.