Acquisition to provide additional resources to power world-class technology and build the safest mobility in the world

Tokyo, Japan and Campbell, CA (September 28, 2021) – Woven Planet Holdings, Inc. (“Woven Planet”), a subsidiary of Toyota Motor Corporation (“Toyota”), announced the acquisition of Renovo Motors, Inc. (“Renovo”), a pioneering Silicon Valley-based automotive operating system developer. Renovo develops specialized software, which will advance Woven Planet’s mission to enable the most programmable vehicles on the planet with Arene and realize the broader vision of “Mobility to Love, Safety to Live.”

The acquisition will add depth to Woven Planet’s resources, particularly for Arene, Woven Planet’s open vehicle development platform, by:

• bolstering their elite team with top-tier engineers who have deep expertise in building a complete software-defined vehicle infrastructure stack

• providing a platform and software that are proven to work across multiple original equipment manufacturer (OEM) platforms, well-aligned with the goal of establishing a hardware-agnostic operating system

• bringing a robust, established technology ecosystem of industry partners

Following on the heels of recent acquisitions made this year, Renovo complements Woven Planet’s strategy to bring together world-class talent and expertise in automated driving technology, next-generation mapping, and vehicle operating systems, ensuring that Woven Planet can power the future of mobility.

Comment from Nikos Michalakis, Senior Vice President of Software Platform, Woven Planet Holdings

“The acquisition of Renovo supports Woven Planet's work in transforming worldwide mobility. A key part in delivering our ‘Mobility to Love, Safety to Live’ vision is to enable the most programmable vehicles on the planet – opening vehicle programming to everyone by simplifying vehicle software development and increasing deployment frequency without compromising safety and security. With Renovo having deep roots in the space, we immediately recognized the opportunity and inherent value of the company. The technical and cultural fit could not have been better and all of us are excited to bring our expertise and technology together to power a new era of automotive technology.”

Comment from Christopher Heiser, CEO, Renovo Motors

“We are in awe with what the Woven Planet team has been building – and are thrilled to join them in creating holistic mobility solutions that will truly benefit humankind. We are united around a singular goal to connect the most ubiquitous software and automotive technology in the industry. In Woven Planet and Toyota, we've found partners committed to doing exactly what we have always wanted to do on a global scale, and that’s a great feeling.”

About Woven Planet Holdings

Woven Planet Group represents a carefully curated blend of expertise and resources dedicated to bringing the vision of “Mobility to Love, Safety to Live” to life. Through innovations and investments in automated driving, robotics, smart cities, and more, we are transforming how humankind lives, works, and moves. We exist to design, build, and deliver secure, connected, and sustainable mobility solutions that benefit all people worldwide. Founded in 2018 as Toyota Research Institute - Advanced Development (“TRI-AD”), Woven Planet is composed of four complementary companies: Woven Planet Holdings, Woven Core, Woven Alpha, and Woven Capital. For more information, please visit: https://www.woven-planet.global/.

About Renovo Motors

Renovo is an award-winning automotive software company and creator of the first commercially available data-management platform that enables automakers to continuously learn from their production vehicles. Renovo’s “Complete Loop” approach allows those automakers to delight their customers with vehicles that get smarter, become safer, increase in performance, and grow in reliability through every day of ownership. From ADAS and infotainment feature improvements to resolving critical safety and potential warranty issues, Renovo makes every mile a vehicle drives 10X more valuable as every mile is used to make the product, your organization, and its teams better.