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Thursday, 31 August 2017, 13:34 HKT/SGT
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Source: Toyota
Toyota Announces Partners Selected for Joint Development of Services for the TOYOTA NEXT Open Innovation Program

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
http://www.acnnewswire.com/topimg/Low_ToyotaSelectedCompanies.jpg

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/


About Toyota

Toyota Motor Corporation (TMC) is the global mobility company that introduced the Prius hybrid-electric car in 1997 and the first mass-produced fuel cell sedan, Mirai, in 2014. Headquartered in Toyota City, Japan, Toyota has been making cars since 1937. Today, Toyota proudly employs 370,000 employees in communities around the world. Together, they build around 10 million vehicles per year in 29 countries, from mainstream cars and premium vehicles to mini-vehicles and commercial trucks, and sell them in more than 170 countries under the brands Toyota, Lexus, Daihatsu and Hino. For more information, please visit www.toyota-global.com.

Contact:
Public Affairs Division
Global Communications Department
Toyota Motor Corporation
Tel: +81-3-3817-9926


Aug 31, 2017 13:34 HKT/SGT
Source: Toyota

Topic: Press release summary
Sectors: Automotive
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