Toyota and NTT invest 1.6 billion in smart cities

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Toyota and NTT will work together on a platform for smart cities, reports Reuters. The platform will enable the two companies to collect data from smart cities and link them to each other to enable analysis. Together, the companies will invest 200 billion Yen (1.6 billion euros) in the new platform.

Toyota and NTT have entered into a new partnership for this investment. The new agreement gives Toyota a 2.07% share in the telecom giant. NTT gets a share of 0.9 percent in Toyota. The two parties previously worked together on smart technology for cars. These technologies for cars will be further wrapped up for the platform to be connected to smart technology in homes and on the streets.

Toyota’s ‘Woven City’

Toyota announced in January that it wants to focus on developing a smart city in Japan. The intention is for this city to run on sustainable hydrogen technology. In addition, as many IoT and smart solutions as possible should be implemented in the city. Toyota wants to realise the city near Mount Fuji in Japan. The architect Bjarke Ingels is responsible for the design.

The platform that NTT and Toyota will develop together will be the first to be applied in this new smart city. It is not yet known when the construction of the city will start. Toyota calls the city ‘Woven City’.