Toyota to Establish In-house Venture Company for EV Development

Toyota Motor Corporation (TMC) has decided to establish an in-house venture company responsible for developing electric vehicles (EVs). The venture company, which will be a virtual organization consisting of four persons—one each from Toyota Industries Corporation, Aisin Seiki Co., Ltd., Denso Corporation and TMC—and which will be independent of other internal structural organizations, is set to launch in December 2016.