- Toyota Motor Corp (NYSE:TM) unit Woven Planet is promoting autonomous driving technology without expensive sensors like lidars, Reuters reports.
- Woven Planet used cameras that are 90% cheaper than sensors and conveniently installed in passenger car fleets, which could help drive down costs and scale up the technology.
- Toyota would still use multiple sensors like lidars and radars for robotaxis and other autonomous vehicles for road safety.
- Tesla has been betting on cameras to collect data from over 1 million vehicles on the road to develop its automated driving technology.
- Alphabet Inc's (NASDAQ:GOOG) (NASDAQ:GOOGL) Waymo and other self-driving car firms added lidars to a few vehicles.
- Price Action: TM shares traded lower by 0.68% at $176.45 on the last check Wednesday.
- Editor's note: The story has been updated for clarity that Woven Planet is following the footsteps of other companies like Tesla to use cameras. They have not joined Telsa in any capacity
