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Weekly Recap: Toyota wants cars to be your 'close friends' around 2020

Toyota confirmed plans this week to launch autonomous technology in its production cars around 2020. The automaker's version is called Highway Teammate, and it's one element of a broader mobility strategy that includes vehicles communicating with each other and the grid. "Toyota believes that interactions between drivers and cars should mirror those between close friends who share a common purpose, sometimes watching over each other and sometimes helping each other out," the company said in a statement. That sounds utopian, and perhaps a bit cheesy, but it's an acknowledgment that autonomous driving requires more than technology developed in a vacuum. Toyota is looking at its research in a broader context, and dubs its overall strategy the Mobility Teammate Concept. Highway Teammate is the first step. Its test vehicle is a modified Lexus GS, which uses road-mapping data and external sensors to merge or exit highways, change lanes, and maintain safe distances during driving. It's operated on the Shuto Expressway in Tokyo. Toyota has been working on autonomous tech since the 1990s, with the goal of providing mobility for older people and the disabled, as well as lowering the frequency of traffic accidents. Toyota's push comes as an early adopter, Nissan, is hedging on its own deadline to implement the autonomous tech by 2020 due to a lack of firm laws governing self-driving cars around the world. Conversely, Volvo took the landmark step of being the first automaker to accept liability for when its cars will operate in autonomous mode, and urged the US government to set federal guidelines to regulate the technology. OTHER NEWS & NOTES 2016 BMW M4 GTS: Your water-injected, turbo-boosted demon BMW is unleashing its most powerful M4 ever, a 493-horsepower special edition that's road legal yet bred for the track. The company is making 700 copies for sale around the world, and 300 of them will come to the United States. The twin-turbocharged 3.0-liter six-cylinder revs to 7,600 rpm and uses a water-injection technology to cool the intake air and lower the compression temperature. BMW says this allows it to wring more power out of the inline six. The car also uses carbon-fiber reinforced plastic for the roof, hood, engine compartment strut brace, drive shaft, and rear spoiler to reduce weight. The M4 features BMW's organic light-emitting diode taillights, which are said to be an industry first.

West Coast labor dispute hampers Japanese automakers' US plants

The ongoing labor dispute between the International Longshore and Warehouse Union and port owners along the West Coast is starting to affect more Japanese automakers building vehicles in the US. The issue already forced Honda and Subaru to take the expensive option of airlifting some parts into the US weeks ago, and according to USA Today, Toyota and Nissan have begun doing so, as well. The choice hasn't been cheap, though, and Subaru's chief financial officer estimated that the decision cost around $60 million more per month than sending components by cargo ship. The effects continue to radiate, according to USA Today, and shortages of some models are possible. Honda is slowing production at its factories in Ohio, Indiana and Canada because the automaker doesn't have enough transmissions and electronics for some vehicles. Toyota already cut back on overtime at some factories. Nissan has only seen a small effect from the issue, though, because of its local suppliers. Dock workers and port owners have been negotiating on a new contract since last year, and the union has organized work slowdowns in response. According to USA Today, the automakers could move shipments to Canada or Mexico, but it would take longer for parts to arrive. News Source: USA TodayImage Credit: Mark Ralston / AFP / Getty Images Earnings/Financials Plants/Manufacturing UAW/Unions Honda Nissan Subaru Toyota shipping port labor dispute

Toyota nears $40B cash reserve as calls grow for new investment, payouts

With the April 15 tax deadline just a few months away, our US readers will be faced with a decision should they get a refund: save or spend? It seems this issue is one many of us face whenever there's a windfall, trying to decide whether we should set the money aside in an account of some sort or use it as a down payment on a new car or a trip to the Apple store. Unsurprisingly, major corporations face a similar, albeit more complex, issue.
Take Toyota, for example. With President Akio Toyoda at the helm, the Japanese manufacturer has gracefully weathered recalls and natural disasters, all while turning beaucoup profits. Last quarter, profits quintupled to 434.4-billion yen ($4.3-billion USD), according to Bloomberg. Toyota also upped its forecast for the end of fiscal year 2013 (which ends on March 31 for Japan), to a record 1.9-trillion yen (about $18.8 billion). Now, the Japanese brand is reportedly sitting on a cash pile of nearly $40 billion, leaving Toyoda-san in an envious predicament - what should the company do with all that money?
Some think Toyota should be doing something, anything with that big stack of cash.