TOKYO (dpa-AFX) - Auto part supplier Denso Corp. and Japanese auto giant Toyota Motor Corp. Wednesday announced a joint venture for research and advanced development of next-generation, in-vehicle semiconductors.
The two companies will study the details and aim to establish the new company in April 2020. Reportedly, Denso will hold a 51% stake in the new company, while Toyota will be the minority shareholder with 49%.
'To create a future of mobility that is safe and sustainable, it is necessary to develop next-generation semiconductors that are integral to technology innovations, such as connected cars, automated driving, sharing mobility and electrification,' the companies said in a statement.
In June last year, Denso and Toyota agreed to consolidate the electronic components production and development functions to Denso. Based on this agreement, they have been working to achieve a speedy and competitive production and development system.
Copyright RTT News/dpa-AFX