August 24, 2018 / 10:09 AM / 3 months ago

Four Toyota group firms to form JV for self-driving tech: Nikkei

A Toyota Motor Corp logo is pictured in a showroom in Tokyo June 24, 2010. REUTERS/Yuriko Nakao

TOKYO (Reuters) - Four Toyota Motor Corp (7203.T) group firms will form a joint venture to combine their self-driving technologies to better compete with automotive component giants such as Bosch Group [ROBG.UL], the Nikkei business daily reported on Friday.

The new company, to be set up by Denso Corp (6902.T), Aisin Seiki Co (7259.T), Jtekt Corp (6473.T) and Advics, will bring together technologies such as braking and steering, the Nikkei said.

Denso is expected to hold the majority stake.

The new firm, to be launched by the end of this year, will primarily supply Toyota but also target European, U.S. and Chinese automakers, the Nikkei said.

Denso, Aisin and Jtekt declined to comment when contacted by Reuters. Representatives for Advics could not be immediately reached for comment.

Reporting by Makiko Yamazaki, Taiga Uranaka, Ritsuko Shimizu, Yoshiyasu Shida

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