The world’s largest carmaker is flinging big bets around in the hope that something sticks. It might be better off doing what it knows best. Toyota said on Tuesday that it is deepening ties with Uber, investing $500m and making Sienna minivans equipped with the tech company’s self-driving software. A yet-to-be determined third party will operate that fleet. One day earlier, four Toyota-affiliated parts companies announced a joint venture to develop software that manages components for automated driving. A few months before that, Toyota put $1bn into Southeast Asia’s largest ride-hailing provider, Grab, the largest such investment by a carmaker. From chunky stakes in mobility and autonomy to financing partnerships and doubling down in China, the Japanese leader is splashing out on the future of the car. Increasingly, though, it looks like two Toyotas: One that remains squarely focused on cost-cutting and operating within the confines of a struggling world market, the other trying to ...
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