Toyota creates new mobility company

Toyota Motor Corp. plans to merge two of its subsidiaries; Toyota Fleet Leasing Co. Ltd and Toyota Tokyo Rental & Leasing Co., Ltd into one new entity, Toyota Mobility Service Co., starting April 1, 2018. The creation of the new company is to provide new mobility services in anticipation for the increasing demand of such services.  In its announcement, Toyota was aware of customers’ diversifying needs, which not only includes conventional vehicle ownership, but also the growing need for shared utilisation via as car sharing, in which people use things only whenever the service is needed.  Ultimately, Toyota’s goal is to become “the leading company of a mobility society” by developing and offering mobility services geared for a connected society.  “Many corporations operating across Japan are based in Tokyo, where the earliest expansion of the mobility service society is expected to occur,” the release said. “Consequently, Toyota plans to establish the new company there in order to quickly and flexibly respond to changing uses and needs for cars in this once-in-a-century revolutionary period in the automobile industry.”