Akio Toyoda on software, the pandemic and successions

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TOKYO -- Toyota Motor President Akio Toyoda will create a trio of companies tasked with developing software for the next generation of smart cars. In detailing the plans, Toyoda said old business strategies no longer guarantee success in an industry being rocked by technological upheaval. If we decide to develop and produce our own engines and our own software, we can use that for product improvement and create value. As president of Toyota Motor, and also as one individual investor, I wanted to demonstrate my commitment and will. Toyota Motor can provide the opportunity for Woven City to do it on its own financial means.

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