Mar 15, 2024 12:36 JST

Source: Mitsubishi Corporation

Mitsubishi Corp to invest in TIER IV: Transforming regional mobility with autonomous driving

TOKYO, Mar 15, 2024 - (JCN Newswire) - Mitsubishi Corporation (MC) and TIER IV, Inc. (TIER IV), a pioneer in open-source autonomous driving technology, are proud to announce MC’s strategic investment in TIER IV through a third-party allotment of shares. Through this investment, the companies will cooperatively tackle efforts to transform mobility services in regional areas with autonomous driving technology. 

MC has been actively engaged in the "Digital Transformation of Regional Mobility" initiative, aimed at enhancing transportation efficiency and convenience in rural areas in Japan. This initiative has involved working on AI-equipped on-demand bus and taxi services to address transportation challenges. Recognizing autonomous driving as a pivotal solution, MC participated in a proof-of-concept test with an autonomous bus at Fukuoka Airport in 2022. Subsequently, in February 2023, A-Drive Inc. (A-Drive) was established to provide a one-stop autonomous driving service, and it has been conducting proof-of-concept tests across Japan. As part of efforts to alleviate the shortage of drivers with class-2 heavy-vehicle licenses, A-Drive has conducted proof-of-concept tests featuring the autonomous driving services for large route buses in the cities of Kitakyushu in Fukuoka and Hiratsuka in Kanagawa. 

TIER IV is steering the development of safe and efficient autonomous driving systems, aiming to reimagine intelligent vehicles through the art of open source. Leveraging Autoware*, the company offers a range of advanced autonomous driving products and solutions, encompassing both software and hardware across multiple platforms. The company conducts cutting-edge research and development in collaboration with partners worldwide, harnessing Autoware to accelerate the rollout of autonomous vehicles that will benefit society as a whole. 

MC and TIER IV have forged a collaborative relationship through previous proof-of-concept tests. This investment solidifies the companies’ commitment to advancing business initiatives in the realm of autonomous driving, with the shared goal of facilitating the widespread adoption of autonomous driving systems. 

Outline of TIER IV

Company name: TIER IV, Inc.
Headquarters location: Open Innovation Complex of Nagoya University, 2702 JR Gate Tower, 1-1-3, Meieki, Nakamura-ku, Nagoya-shi, Aichi, 450-6627, Japan
Representative: Shinpei Kato, Founder, CEO and CTOBusiness description: Development of autonomous driving systems and platform business

Inquiry Recipient:
Mitsubishi Corporation

Source: Mitsubishi Corporation
Sectors: Automotive, EVs, Transportation

Copyright ©2024 JCN Newswire. All rights reserved. A division of Japan Corporate News Network.

Related Press Release

Sumitomo Metal Mining and Mitsubishi Corporation to Participate in Kalgoorlie Nickel Project - Goongarrie Hub
April 30 2024 18:08 JST
MC and Denka Sign J/V Agreement in Fullerene Business
April 24 2024 16:02 JST
Mitsubishi Corporation Announces Participation in a DAC Project in Louisiana, USA
April 16 2024 13:36 JST
Mitsubishi Corporation Announces Completion of Capital Raise by Nexamp
April 11 2024 12:07 JST
Mitsubishi Corporation: Sale of BMA Coal Assets in Queensland Completed
April 03 2024 18:05 JST
Fujitsu signs MoU with Mitsubishi UFJ Financial Group, Inc. to drive nature positive actions
April 01 2024 15:17 JST
Mitsubishi Corporation and 7 large international companies join forces to sponsor the creation of a global e-NG coalition
March 19 2024 15:40 JST
Nissan and Mitsubishi Corporation agree to explore new business in next-generation-mobility and energy-related services utilizing EVs
March 18 2024 16:29 JST
Mitsubishi Corporation: Participation in PAK Lithium Project in Canada
March 05 2024 15:57 JST
Mitsubishi Corporation Expands its Data Center Presence with Entry into US
March 04 2024 14:27 JST
More Press release >>

Latest Press Release

More Latest Release >>