TDK Ventures backs Faction, the scalable driverless transportation startup
SAN JOSE, Calif., Dec. 20, 2021 /PRNewswire/ — TDK Corporation (TSE:6762) announced today that subsidiary TDK Ventures, Inc. has invested in scalable driverless transportation startup company, Faction. Through this partnership, TDK Ventures seeks to expedite the development of a low-cost sustainable solution to urban delivery and travel-on-demand markets through Faction’s right-sized (three-wheel autocycle) electric vehicle (EV) platform. Recently graduated from the world-renowned Y-Combinator business incubator, the Faction team had previously launched driverless vehicles ranging from light EVs to full size semi-trucks, combining cumulative decades of experience into the new Faction fleet.