Toyota, Microsoft team up on connected-car technology

The new venture will study everything from cars that help each other analyze traffic patterns to use-based insurance pricing to connecting drivers with information and security services in their homes. (AP Photo)

(Bloomberg) – Toyota Motor Corp. is collaborating with Microsoft Corp. to consolidate much of the carmaker’s global research in telematics, data analytics and network security services as the auto industry expands connected-vehicle technologies.

The Toyota Connected venture will be headed by Zack Hicks, chief information officer and group vice president at Toyota Motor North America, and will be based in Plano, Texas. The initial investment will be $5.5 million, the automaker said Monday.