Woven by Toyota Now a Wholly Owned Toyota Subsidiary

Toyota Motor Corporation and Woven by Toyota announced today “that to accelerate the implementation of software in social systems and vehicles, they intend to strengthen their relationship by making Woven by Toyota a wholly owned Toyota subsidiary.” (AutoInformed: Toyota’s Woven Capital Invests in Ridecell for Mobility Services)

In April of this year, Woven Planet Holdings, Inc. changed its name to Woven by Toyota, as it undertook a corporate reorganization. Toyota said that was because of its desire to realize software implementation in vehicles at an early stage and Woven by Toyota’s belief that development that is in step with customers’ needs is necessary for accelerating software implementation in society. As such, Woven by Toyota was reorganized, and it was decided that software development by Woven by Toyota would take the form of being outsourced from Toyota.

A review of the software development structure in the Toyota Group was announced this month. As a result, the three companies of Toyota, Woven by Toyota, and Denso will now strengthen collaborative efforts and are restructuring their organizations and human resources across all three companies “to enhance the value of mobility through a software-centered approach.” This is part of an ongoing industry trend to enhance competitiveness through services such as recharging and other connected car offerings.