Toyota group firms to set up JV for self-driving technology

TOKYO (Reuters) - Four Toyota Motor Corp group companies said on Monday they will form a joint venture to develop software that manages brakes, steering and other components for automated driving.

Advics, Aisin Seiki Co, Denso Corp and Jtekt Corp aim to launch the company in March 2019 with Denso to be the biggest stakeholder, owning 65 percent, they said in a joint statement.

The Nikkei business daily had flagged the deal last week.

In addition, Aisin and Denso said they would set up a 50-50 joint venture to develop and sell electrification driving modules. They will focus on modules for hybrids, plug-in hybrids, fuel cell vehicles and electric vehicles, especially in China.

Reporting by Chris Gallagher and Taiga Uranaka, Editing by Sherry Jacob-Phillips