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Toyota shows a smoother autonomous Lexus for CES

Toyota is bringing a new research vehicle to CES. The TRI-P4 autonomous driving test vehicle, based on the Lexus LS500h, is a major step ahead, according to Toyota, as it has improved computing power and additional cameras for better reaction times. Earlier test mules have also used the LS as a basis, and the shift to the new, fifth generation LS brings chassis and steering-control benefits, so the vehicle's movements are smoother in automated mode. The camera tech has also been better integrated into the vehicle design, courtesy of CALTY in Ann Arbor, Michigan. Development has been swift, as the TRI's P2.1 car was unveiled in 2017. The P4 car will be used for Toyota Research Institute's Guardian and Chauffeur mode development. The two tiers differ somewhat, as TRI's Ryan Eustice explains: "Our Chauffeur development is focused on full autonomy, where the human is essentially removed from the driving equation, either completely in all environments, or within a restricted driving domain. Guardian, on the other hand, is being designed to amplify human performance behind the wheel, not replace it. The introduction of the new P4 platform will help us accelerate the development of both tracks when it joins our fleet this spring." The vehicle's situational awareness is boosted by two extra cameras facing on the sides, and a new imaging sensor both forward and rearward. Toyota says the P4's lidar setup is a carryover from the previous platform, but that its machine learning is much improved by its more powerful computer setup. The electricity required by the P4's computing power also comes from the hybrid battery, and as the computer "brain" is now housed vertically against the rear seat's backing, actual trunk space has been freed. More LS500hs will begin to be modified into TRI-P4 vehicles during spring 2019. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

China fines Toyota $12.5 million over Lexus price-fixing

BEIJING — China's market regulator on Friday has fined Japanese carmaker Toyota Motor 87.6 million yuan ($12.5 million) for price-fixing on its premium Lexus cars in eastern Jiangsu province, according to a document on its website. The decision comes as China steps up regulation over auto sales in the world's biggest vehicle market, where more than 28 million cars were sold last year. The anti-monopoly bureau of State Administration for Market Regulation said that between 2015 and 2018, the Japanese carmaker set a minimum sales and resale price for its cars in coastal Jiangsu province, which deprived dealers of pricing autonomy and harmed customers' rights. Lexus also fixed sales strategies in the region over the period, including offering customers discounts while asking them to purchase accessories at fixed prices, a sales tactic usual among individual auto dealers in China but frowned upon for carmakers. A spokesman at Toyota, Lexus' parent firm, told Reuters the firm acknowledged the penalty and respects the decision. He did not comment further. China's auto sales are declining, but Lexus' sales keep growing. It sold 180,200 vehicles in the first 11 months this year, a 21% jump from a year earlier. In June, China's market regulator imposed an 162.8 million yuan fine on Ford Motor Co's joint venture with Changan Automobile Group for violating anti-monopoly law. ($1 = 6.9927 Chinese yuan renminbi) Reporting by Yilei Sun and Norihiko Shirouzu. Related Video:

Toyota's 'green bond' an industry first, quickly rises to $1.75 billion

Toyota is greasing the skids for more green car purchases with the announcement of a $1.75-billion bond designed to finance the purchase of high-efficiency Toyota and Lexus models. The Asset-Backed Green Bond is a first for the automotive industry and is making a lot of money available to buy or lease the following vehicles: any of the four Prius variants, Camry Hybrid, Avalon Hybrid, RAV4 EV, Lexus CT 200h and Lexus ES 300h. Originally, the bond was set at $1.25 billion, but Justin Leach, manager of public relations for Toyota Financial Services (TFS), told AutoblogGreen that demand was high and it was quickly oversubscribed. TFS has been looking at more ways to diversify its portfolio after a Diversity & Inclusion Bond that was announced in early 2013 and, with the new Green Bond, TFS is offering something for the "number of investors out there who are looking for investment opportunities in green." The way the money from the bond is used, basically, is that TFS takes the $1.75 billion and uses it to finance the purchase or lease of the nine vehicles listed above. As of right now, all the eligible vehicles are plug-in or hybrids, but the rules simply say that the cars in the program have to meet certain "powertrain, fuel efficiency and emissions" criteria. That means: Minimum EPA estimated MPG (or MPG equivalent for alternative fuel vehicles) of 35 city / 35 highway California Low-Emission Vehicle II (LEV II) certification of super ultra-low emission vehicles (SULEVs) or higher, which would include partial zero emissions vehicles (PZEVs) and zero emissions vehicles (ZEVs). TFS raises plenty of billions in other ways for the rest of the lineup, and got into asset backed securities in 2010, Leach said. Given the success of this first Green Bond, Leach said he expects TFS to keep this idea in its arsenal. "This one was so well received, I would be surprised if we didn't see it again," he said. "If anyone was going to do it, it should be Toyota, right?" Toyota Financial Services (TFS) Issues Auto Industry's First-Ever Asset-Backed Green Bond Bond Proceeds to Fund Consumer Loans and Leases for Toyota's Leading Portfolio of Green Vehicles TORRANCE, Calif., (March 24, 2014) – Toyota Financial Services (TFS) issued the auto industry's first-ever Asset-Backed Green Bond in the amount of $1.75 billion.