Found in Robotics News & Content, with a score of 2.03
Third Wave Automation Inc. and Toyota Industries Corp. today announced a strategic partnership to produce the next generation of intelligent, fully autonomous material handling vehicles. The global materials handling equipment market will expand from $211.8 billion (U.S.) in 2019 to $320.9 billion by 2027, at a compound annual growth rate of 5.4%, predicted Fortune Business Insights. It cited the rapid growth of e-commerce, with consumer spending at nearly $3.5 trillion in 2019 and a year-over-year growth rate of 17.9%. Businesses are turning to automation to meet this demand while keeping production and logistics costs down. “Our strategic development efforts with…
Found in Robotics News & Content, with a score of 1.45
Woven Planet Holdings Inc., a subsidiary of Toyota Motor Corp., said yesterday that it has agreed to acquire Level 5, the self-driving division of ride-hailing company Lyft Inc. This marks the first major deal for the newly established Woven Planet and continuing consolidation in the autonomous vehicle space. Woven Planet Group launched in January 2021 as an expansion of the operations of Toyota Research Institute - Advanced Development Inc. (TRI-AD) with the motto of “Mobility to Love, Safety to Live.” It includes four companies in support of connected and autonomous vehicles, robotics, smart cities, and more. Woven Planet Holdings Inc.…