Toyota Subsidiary Acquires Vehicle Operating System Developer Renovo Motors
Sep 28, 2021 By MarketDepth
Toyota Motor Corporation (NYSE: TM) subsidiary, Woven Planet Holdings, Inc. has reported the acquisition of Renovo Motors, Inc., an automotive operation system developer. Renovo develops special software that will push Woven Planet’s mission to enable programmable vehicles with Arene and generalize its vision of “Mobility to Love, Safety to Live.” Comment from Nikos Michalakis, Senior Vice President of Software Platform, Woven Planet Holdings: “The acquisition of Renovo supports Woven Planet’s work in transforming worldwide mobility. A key part in delivering our ‘Mobility to Love, Safety to Live’ vision is to enable the most programmable vehicles on the planet – opening vehicle programming to everyone by simplifying vehicle software development and increasing deployment frequency without compromising safety and security. With Renovo having deep roots in the space, we immediately recognized the opportunity and inherent value of the company. The technical and cultural fit could not have been better and all of us are excited to bring our expertise and technology together to power a new era of automotive technology.”
“We are in awe with what the Woven Planet team has been building – and are thrilled to join them in creating holistic mobility solutions that will truly benefit humankind. We are united around a singular goal to connect the most ubiquitous software and automotive technology in the industry. In Woven Planet and Toyota, we’ve found partners committed to doing exactly what we have always wanted to do on a global scale, and that’s a great feeling.”
Christopher Heiser, CEO, Renovo Motors:
