(Bloomberg) -- Toyota Motor Corp. agreed to buy a stake in Mazda Motor Corp. and jointly build a $1.6 billion plant in the U.S. Asia’s largest automaker will also invest more in areas like self-driving cars to stay relevant in an industry upended by technological changes.
As new rivals emerge and cars become autonomous and connected, Toyota will adapt to the change with its new plans. Mergers and acquisitions and using robots to do routine tasks such as making reports and answering queries is one part of it. Toyota will increase the proportion of R&D spending on “crucial fields” including artificial intelligence and environmentally friendly vehicles to as much as 25 percent from about 20 percent.
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