Toyota to counter recall news with safety research center


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Toyota ( TM ), manufacturer of the world's best-selling autos now in recovery mode following the past 18 months of damaging safety recalls, will establish a safety research center in Michigan, according to a published report .

A five-year $50 million investment will create the Collaborative Safety Research Center in Ann Arbor, the automaker announced on Sunday. Akio Toyoda, president of Toyota, testified to congress about reports of unintended accelerations.

"Our president made a commitment to Congress to take a leadership role in automotive safety and this is an effort to live up to that commitment," Bruce Brownlee, Toyota's senior executive administrator for external affairs, told the publication.

Since Fall 2009, more than 11 million Toyotas throughout the world have been recalled, forcing the company to bolster its safety and reliability efforts. Those recalls cost Toyota nearly $50 million in fines pertaining to the recalls.

The research center will work on methods of decreasing driver distraction, which Toyota says covers 30 of the deaths of children, teens and seniors in car crashes in the U.S. The research center also will foster ties with university and hospital researchers.

At 2:22 p.m. on Monday, Toyota shares were worth $82.39.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Personal Finance Business
Referenced Stocks: TM

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