Toyota to Partner With Alphabet’s Waymo on Autonomous Technology

Toyota Motor Corp. and Alphabet Inc.’s Waymo will explore collaboration on autonomous-driving technology, a potential boost to the Japanese carmaker’s efforts to catch up to the cutting-edge systems offered by major rivals.

The companies, along with Toyota’s automotive-technology division Woven, will seek to develop a new autonomous-driving platform, according to a joint statement Wednesday. They’ll also look to enhance next-generation personally owned vehicles, they said.

Toyota and other major Japanese firms have poured money into artificial intelligence and autonomous driving for years, but have struggled to keep pace with the rapid changes spearheaded by brands like Tesla Inc. and ...