The stock of Toyota Motor Corp (ADR) (NYSE:TM) closed at $112.38 losing 0.64% in yesterday’s trading session.
Together with Intel Corporation (NASDAQ:INTC) and other technology and auto companies, the provider is looking forward to forming a consortium. It will be targeting coming up with an ecosystem for big data employed in the wide ray of the connected cars. The Automotive Edge Computing Consortium comprises of companies such as Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) which is a Swiss telecom equipment maker and Denso Corp.
This particular consortium has plans underway to use the data at hand to offer immense support to the emerging services. They include maps with real-time data and driving assistance emanating from cloud computing as well as intelligent driving. The current times continue to witness a wide array of cars, all fitted with new capabilities. These are ranging from driving themselves to staying in lanes. The other interesting attribute is that they are also producing large chunks of information, part of it being where they drive exactly.
Reportedly, the data volume between the cloud and the vehicles is expected to hit the 10 exabytes per month mark by 2025.This is almost 10,000 times bigger in relation to where it stands at the moment. This is according to a statement given by Toyota.
In the previous week, one of the provider’s rivals expressed willingness to join hands with it in a joint move to try and manufacture electric and connected cars. A spokesperson working with Toyota has come to the limelight to express the company’s optimism regarding the new alliance. It believes that the move will go a long way towards helping the company generate higher revenues and at the same time boost investor confidence.
He also went ahead to acknowledge that they were encountering a number of business challenges lately. The spokesperson termed them normal challenges and that they hoped to counter them and reach their goals soon. It goes without saying that car manufacturing has been undergoing great dynamism in the recent times.