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Toyota to develop ‘self-driving’ cars

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By NewsGram Staff Writer

tdy_tren_google_140528.nbcnews-video-reststate-560Machines are known to effectively reduce human labor. But the four-wheeler machine that are driven all around the world are set to become self-driven!

Toyota, Japanese automaker will be investing approximately USD 50 million over to the next five years to set up joint research centers at Stanford University and the Massachusetts Institute of Technology (MIT) for developing “intelligent” self-driving cars.

“This bold collaboration will address extremely complex mobility challenges using ground breaking artificial intelligence research. I’m thrilled to be a part of the synergies and talent sharing of Toyota, MIT, and Stanford,” said Gill Pratt, former Program Manager at the Defense Advanced Research Projects Agency (DARPA).

The two research centers will focus on using technology to make driving safer by inventing ways for cars to recognize their surroundings and make decisions that avert potential accidents.

“Our team will work to help intelligent vehicles recognize objects in the road, predict behaviours of things and people, and make safe and smart driving decisions under diverse conditions,” said Fei-Fei Li, director of the Stanford Artificial Intelligence Laboratory.

Not far away from Stanford, both General Motors Co. and Ford Motor Co. have established offices in Palo Alto, California, in their mission to make smarter cars.

After smart phones and smart cities, smart cars are on their way!

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Toyota Launches Facility For Fast Tracking Car Loans

Toyota India launches fast track loan facility for customers

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Toyota
Toyota India introduces a facility that allows its customers in fast tracking car loans. Pixabay

Japanese car maker Toyota has launched a facility for fast tracking car loans to its customers in India within 30 minutes of their applying.

“The new service named ‘Tatkal’ loan enables our customers to get loan approval in 30 minutes of submitting the application,” Toyota Financial Services India (TFSIN) said in a statement on Thursday.

Touted to be a maiden industry initiative, TFSIN will use an automated system for speeding up the loan approval process.

Toyota car loan
Toyota is extending the loan to any customer owning a house with the intention to buy the car for personal use. Pixabay

Covering up to 85 per cent of a Toyota car’s ex-showroom price, the Tatkal loan offer will take into account a customer’s bank account and CIBIL credit score.

Toyota is extending the loan to any customer owning a house with the intention to buy the car for personal use, and holding an identity card, bank statement, residence ownership proof and a photograph.

Also Read- Tesla CEO Elon Musk All Set to Launch Tesla’s First-ever Electric ‘Cybertruck’

Offering the loan service to its customers without personally being present, Toyota has opened the scheme on all its models to be availed remotely, as well as via tele-verification.

“With Tatkal loan service, we aim to make the car buying process simple, accessible and easy for all our customers. Submit the required documents and get a loan approved within 30 minutes,” Toyota Financial Services Chief Executive Officer (CEO) Tomohei Matsushita said in the statement.  (IANS)