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Toyota chief personally invests $45m in self-driving smart city

Akio Toyoda plots automaker's next 'model change' into cutting-edge tech player

Toyota Motor President Akio Toyoda announces plans for the company's "Woven City," to be located at the base of Mount Fuji, at the 2020 CES.   © Reuters

NAGOYA -- Toyota Motor President Akio Toyoda has invested 5 billion yen ($45.3 million) of his own money into a group unit building a smart city dominated by self-driving vehicles. 

The investment in Woven Planet Holdings during the last fiscal year ended March was revealed in its annual securities report filed Thursday.

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