Toyota’s research arm to create $800 million investment fund

Toyota Motor’s research arm said on Thursday that it would form an $800 million global investment fund.

The fund called Woven Capital is to invest in companies related to the autonomous mobility and smart cities, Toyota Research Institute-Advanced Development said.

Previously this year, the Japanese automaker revealed a plan to build a prototype “city of the future” called Woven City at the base of Japan’s Mount Fuji, powered by hydrogen fuel cells and operating as a laboratory for autonomous cars.