Earlier this year, Toyota created a new tech-focused subsidiary called Woven Planet Group. The new group has kept busy and kicked off its first year with a bang by acquiring Lyft’s self-driving car division — called “Level 5” — for $550 million.
Level 5, so named after the five stages of car autonomy, was costing Lyft a lot of money, and Toyota was perfectly positioned to take over. The automaker will absorb the 300 workers from Level 5 into its own team, adding up to about 1,200 employees, all dedicated to developing innovative driving technologies and, eventually, full driving automation.
“Bringing Level 5’s world-class engineers and experts into the fold ― as well as additional technology resources ― will allow us to have even greater speed and impact,” said Woven Planet CEO James Kuffner. “This deal will be key in weaving together the people, resources, and infrastructure that will help us to transform the world we live in through mobility technologies that can bring about a happier, safer future for us all.”
As part of the deal, Lyft will also provide Toyota with its system and fleet data. Both companies anticipate self-driving ridesharing services to be an important part of the future of mobility.
At Jordan Toyota, we’re excited to see what Toyota can do with Lyft’s self-driving car division. And fortunately, we won’t have to wait until fully automated vehicles are developed to benefit from the technologies created in the process!
Toyota has taken many steps to address major environmental issues, and the automaker highlighted those efforts at going green in its 2020 North American Environmental Report. Toyota Motor North America focused its 2020 sustainability efforts on five key areas, including carbon, water, materials, biodiversity, and outreach.
Toyota’s water stewardship efforts mainly took place at a west coast regional sales office and Toyota Motor Manufacturing de Baja California in Tijuana, Mexico. Toyota will continue to expand its water conservation efforts over the near year by addressing water quality and local water conditions and hosting outreach activities with suppliers and local communities.
In Fiscal Year 2020, Toyota reduced absolute greenhouse gas emissions by nine percent when compared to Fiscal Year 2019. This achievement can be attributed to Toyota improving its energy efficiency, investing in renewable energy, and making changes in production volume and model mix.
Toyota also launched new electrified products, including the 2021 Toyota Mirai, RAV4 Prime Plug-In Hybrid, and Sienna Hybrid and Venza Hybrids. And the automaker plans to create an electrified version of its entire lineup by 2025.
The demonstrated effort by Toyota to promote awareness and model positive change for the environment is reflected in our dealership at Jordan Toyota here in Mishawaka. Stop by to take one of our hybrid or electric models for a test drive.
With the brand’s diverse lineup of affordable-yet-comfortable vehicles, significant advancements in the realm of fuel efficiency, and generous owner perks, it’s no wonder Toyota is one of the most beloved OEMs globally. According to the most recent BrandZ rankings, Toyota is one of the most valuable automakers in the world.
The “2020 Top 100 Most Valuable Global Brands” list from BrandZ ranks Toyota as the 48th most valuable brand in the world. Toyota was the only automaker on the list to crack the top 50, which shows that Toyota’s brand valuation is similar to some of the biggest juggernauts in the corporate world. The ranking values Toyota’s brand worth at a whopping $28.4 billion.
Experts suggest that the most valuable automakers — including Toyota — clearly demonstrate to consumers a commitment to future alternative fuel technologies like hybrid powertrains and hydrogen fuel cells. The brand’s dedication to serving Toyota vehicle owners is the most important contributing factor to its high brand valuation. “Toyota is creating differentiation not necessarily from design, but what they do provide is outstanding customer care and value,” said Kantar’s Guillaume Saint.
Visit Jordan Toyota in Mishawaka, IN, to see why Toyota is the most valuable automakers in the world. We’ll set you up with test drives of some of the newest models in our inventory.