Toyota Motor Corp is investing heavily in robotics, with estimates suggesting that it could require around 400,000 robots and spend an annual amount of about 1 trillion yen ($6.4 billion) by 2028.
The investment comes as the company seeks to accelerate its advancements in artificial intelligence, with Toyota CEO Akio Toyoda publicly acknowledging the importance of AI in driving growth and competitiveness. The potential investment was first discussed earlier this month when Reuters reported on the topic.
While details on whether the full $6.4 billion investment will proceed remain unclear, Toyota's focus on robotics is a significant development for the company, which has been expanding its use of automation across its factories, group companies, and major suppliers in recent years.