A research company will be set up in Silicon Valley by Toyota. Toyota is investing $1 billion in the project. It will develop critical intelligence and robotics. The company is making an effort to produce autonomous cars and enter the robotics field.
The company will begin with 200 employees in a facility near Stanford University. Later a facility will open near Massachusetts Institute of Technology in Chicago.
The project includes not only autonomous cars but robotic prototypes as well.
Head of the new Toyota Research Institute, Inc. will be Gill Pratt.
He said that goals for the program are to help the elderly function in their homes, introduce autonomous automobiles into economy, and give everyone the opportunity to drive.
Motivations for the onset of the company were the many accidents that occur each year, the many people who don’t have access to or the opportunity to drive, and aiding the elderly in their ability to function in their homes.
Pratt said he made choices based on the social conscience that Toyota exhibited.
Toyota sees the creation of a robot as intelligent as a human being as possible in the foreseeable future.
Companies are competing in the recruitment of skilled employees.
Toyota had profits of 2.25 trillion for the fiscal year ending in March of 2016.
Prius and Camry are expected to sell 10 million vehicles this year.
The company’s goal is to eliminate car accidents through the introduction of autonomous cars into the economy.
Silicon Valley is a well known seat of the electronic industry in California. It is famed for its production of innovative products and introducing state of the art and cutting edge products into the market.
Recently companies have been conceiving of it as a potential center for the production of autonomous cars and robotic products.