Toyota invests $607 million in autonomous driving startup

Japanese carmaker Toyota has invested big into an autonomous driving startup company with hopes of keeping up with rivals in the autonomous vehicle field, as reported by Reuters. Autonomous driving startup Pony.ai has announced $701 million raised in funds for development, with $607 million of the sum coming from Toyota. Pony.ai is Silicon Valley-based with origins in China, marking the investment as the biggest Toyota has ever made into a Chinese-background autonomous driving company.