Toyota, Mazda to Jointly Develop Smart-Car Software - TheStreet

Japanese automakers Toyota Motor (TM) - Get Report and Mazda Motor (MZDAF) are planning to jointly develop a smart-car control platform intended for each's next generation vehicles, Nikkei Asian Review reports.

The jointly developed system will control car navigation, music and video, and boost smartphone connectivity. Toyota will develop the "brain" of the system, powered by open-source Linux operating system, and will bring it to Mazda to further streamline its adoption.

The new systems will be included in new Toyota Camrys hitting the American market this summer.

The news comes just a week after Toyota acquired a stake in Mazda. The two also agreed to jointly invest in a new U.S. production facility that could create 4,000 new jobs.

Shares of Toyota were higher nearly 1% while shares of Mazda were spiking more than 2% in afternoon trading on Friday. 

More of What's Trending on TheStreet: