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Business deals

Toyota and NTT in tie-up for $1.8bn smart city project

Automaker to tap telecom provider's technology for connected cars

Japan's biggest automaker and largest telecoms company already collaborate on developing technology for connected cars.

TOKYO -- Toyota Motor and Nippon Telegraph and Telephone have decided to sign a capital and business tie-up deal, Nikkei learned Tuesday.

The companies, which will spend a total of some 200 billion yen ($1.81 billion), will bring together their respective technologies for a project to build a smart city to start in 2021 on a former Toyota plant site in Shizuoka Prefecture.

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