Toyota Unveils New Models in Advanced Driver-Assist Technology Push

Lexus LS and Toyota Mirai cars | Toyota/ Handout via Reuters
Lexus LS and Toyota Mirai cars | Toyota/ Handout via Reuters
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Toyota Unveils New Models in Advanced Driver-Assist Technology Push

Lexus LS and Toyota Mirai cars | Toyota/ Handout via Reuters
Lexus LS and Toyota Mirai cars | Toyota/ Handout via Reuters

Toyota Motor Corp unveiled on Thursday new models of Lexus and Mirai in Japan, equipped with advanced driver assistance, as competition heats up to develop more self-driving and connected cars.

Toyota's latest launch comes as automakers, electric car startups, and tech giants invest heavily in so-called active safety features.

The Japanese carmaker's new driving assist technology, or Advanced Drive, features a level 2 autonomous system that helps driving, such as limiting the car in its lane, maintaining the distance from other vehicles, and changing lanes under the driver's supervision on expressways or other motor-vehicle only roads.

The luxury sedan Lexus LS will be on sale from Thursday, costing between about 16.3 million yen ($148,627.70) and 17.9 million yen, while the second-generation Mirai hydrogen fuel cell car will be offered on April 12 at between 8.4 million and 8.6 million yen.

The new models are Toyota's first products brought to the market that provide over-the-air updates and utilize AI technology centered on deep learning, said Toyota executive James Kuffner, who is also the head of Toyota's research unit Woven Planet.

"This is really an important first step in our journey towards software-first development," he said at an online briefing on Thursday, adding that the company has tried to design the software to be truly global and to provide re-usability.

In the future, software features on cars will be "upgradable" and "more customizable" much like how people personalize their smartphones, Kuffner added.

Fully self-driven cars are still likely to be years away, but rival General Motors Co early this year made a splash at the virtual Consumer Electronics Show with a fully-autonomous all-electric flying Cadillac concept, while Chinese search engine operator Baidu unveiled a partnership with local car brand Geely.

Toyota's domestic competitor, Honda Motor Co Ltd, last month unveiled a partially self-driving Legend sedan in Japan, becoming the world's first carmaker to sell a vehicle equipped with new, certified level 3 automation technology.

($1 = 109.7000 yen)



EV Maker Rivian Beats Expectations for Deliveries as Supply Snag Eases

Workers assemble second-generation R1 vehicles at electric auto maker Rivian's manufacturing facility in Normal, Illinois, US June 21, 2024. REUTERS/Joel Angel Juarez/File Photo
Workers assemble second-generation R1 vehicles at electric auto maker Rivian's manufacturing facility in Normal, Illinois, US June 21, 2024. REUTERS/Joel Angel Juarez/File Photo
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EV Maker Rivian Beats Expectations for Deliveries as Supply Snag Eases

Workers assemble second-generation R1 vehicles at electric auto maker Rivian's manufacturing facility in Normal, Illinois, US June 21, 2024. REUTERS/Joel Angel Juarez/File Photo
Workers assemble second-generation R1 vehicles at electric auto maker Rivian's manufacturing facility in Normal, Illinois, US June 21, 2024. REUTERS/Joel Angel Juarez/File Photo

Rivian surpassed analysts' expectations for fourth-quarter deliveries on Friday and said its production was no longer constrained by a component shortage, a positive sign for the electric vehicle maker aiming to turn its first profit.

Shares of the California-based company rose nearly 6% in premarket trading. The stock lost more than 40% of its value in 2024.

The shortage of the part used in its R1 SUV and R1T pickups, as well as its delivery vans, started in the third quarter and forced Rivian to slash its annual production target in October.

"The previously discussed shortage of a shared component on the R1 and RCV platforms is no longer a constraint on Rivian's production," the company said on Friday, Reuters reported.

Rivian handed over 14,183 vehicles in the three months ended Dec. 31, compared with estimates of 13,472, according to 15 analysts polled by Visible Alpha.

That was a 42% jump from the previous quarter and marked Rivian's highest deliveries in more than a year, even though Amazon.com, its biggest backer, takes fewer deliveries in the fourth quarter due to its focus on holiday season sales.

Rivian produced 12,727 vehicles in the quarter, compared with estimates of 11,398 units.

For 2024, production came in at 49,476 vehicles, down about 13% from a year earlier but above the company's lowered target of between 47,000 and 49,000 units.

Rivian has cut costs sharply by renegotiating supplier contracts and revamping its manufacturing processes to turn a gross profit for the fourth quarter. It also entered a technology joint venture with German automaker Volkswagen last year that will provide a $5 billion lifeline.

EV makers are grappling with slowing demand as higher borrowing costs push buyers toward cheaper gasoline-powered hybrid vehicles and legacy automakers focus on rolling out electric vehicles.

Bigger rival Tesla reported its first fall in yearly deliveries on Thursday, also weighed down by the EV pioneer's aging lineup.