NAGOYA, Japan -- A Toyota Motor subsidiary working to build a smart "Woven City" near Mount Fuji held 6 billion yen ($41.5 million) more in liabilities than assets as of the end of March, according to earnings documents disclosed by Friday.
Toyota and Tokyo-based unit Woven Planet Holdings broke ground on the project in Shizuoka prefecture in February 2021. The city will serve as a testing ground for autonomous vehicles, advanced logistics chains and other cutting-edge technology, with initial trials slated to start in 2025.
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