UPDATE 1-Toyota plans US artificial intelligence research with focus on self-driving cars

* Toyota a late entry in race to develop self-driving cars* New Silicon Vally research plant to hire about 200 staff* Plans to invest $1 billion in R&D over next five years (Changes headline)TOKYO, Nov 6 (Reuters) – Toyota Motor Corp said on Friday it will set up a research and development company with a focus on artificial intelligence in Silicon Valley, as competition to develop self-driving cars intensifies.The world’s top-selling automaker plans to invest $1 billion in R&D over the next five years in a departure from its cautious stance on automated drive. “I used to say, quite until recently, that we will go ahead with automated drive only if they beat humans in a 24-hour car race,” Toyota President Akio Toyoda told a news conference.”But I changed my…


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