|Thursday, 31 August 2017, 13:34 HKT/SGT|
Toyota City, Japan, Aug 31, 2017 - (JCN Newswire) - Toyota Motor Corporation (TMC) has concluded a selection process that started in December 2016 for the TOYOTA NEXT open innovation program. The following five companies have been selected to collaborate with Toyota in the program.
The Five Selected Companies
TOYOTA NEXT is a program launched by Toyota to address the major challenges that Japan is expected to face in the future, including a low birth rate, an aging population, growing urban population density, and depopulation of rural areas. These challenges have led to an increase and diversification of customer needs, brought about by a rise in IT and technology, and the program aims to address the emergent variety of needs in a flexible and agile manner.
The program is intended to promote joint development of new services by utilizing new ideas, technologies, and solutions initiated and driven by a wide range of organizations, including corporations, SMEs, startups, and research institutions. Toyota aims to work with TOYOTA NEXT partners to develop services that improve the user-friendliness of its customers' cars, make daily travel more convenient and comfortable, and help achieve a safer and more reliable mobility society. The program also aims to develop people-centered services to provide customers the experience of an exciting future to look forward to.
During the selection process, Toyota received over 500 submissions on a broad range of ideas from innovative ones aimed at consumers to those leveraging Toyota's unique technological capabilities.
The following five major factors were considered in the selection process:
1) Ideas that solve issues faced by people and society
2) Possession of sufficient technological, developmental, and service capabilities
3) Enthusiasm to implement ideas
4) Utilization of assets of both companies (Toyota and the selected company)
5) Feasibility for both companies (Toyota and the selected company)
Shuichi Murakami, a managing officer with Toyota, commented that, "We are grateful to be able to find new partners to help in developing new services. We will strive dutifully to realize these services and expect to learn much along the way."
As the TOYOTA NEXT initiative moves forward, Toyota will have discussions with the selected companies on specific service content, a schedule for launch, in addition to details regarding capital arrangements and cooperation.
Please refer to the following link for more details on TOYOTA NEXT:https://toyotanext.jp/en/
Supported by people around the world, Toyota Motor Corporation (TSE: 7203; NYSE: TM), has endeavored since its establishment in 1937 to serve society by creating better products. As of the end of December 2013, Toyota conducts its business worldwide with 52 overseas manufacturing companies in 27 countries and regions. Toyota's vehicles are sold in more than 170 countries and regions. For more information, please visit www.toyota-global.com.
Public Affairs Division
Global Communications Department
Toyota Motor Corporation
Aug 31, 2017 13:34 HKT/SGT
Topic: Press release summary
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