TOKYO: Japanese automaker Toyota has announced the launch of a $111 million investment fund that will help startups develop advanced automotive technologies, such as artificial intelligence, robotics, and hydrogen fuel cell technology. The investment fund has been dubbed the Mirai Creation Investment Limited Partnership and is being backed by Toyota and two financial institutions: Sumitomo Mitsui Banking Corporation and Sparx Group. The fund could bring major advancements to the clean transportation space.
Automakers see promise in hydrogen fuel cells
Several automakers are working to develop new vehicles that produce limited or zero emissions. Strict emissions regulations coming from some of the world’s largest markets have created pressure for automakers to do this, while others simply see a very promising future in the clean transportation space. Notably, hydrogen fuel cells are becoming the primary tool for automakers when developing clean vehicles, replacing lithium-ion batteries that have been used to produce clean vehicles for the past several years.
