Rustic car parts manufacturer Lexus is getting $500million investment in a car parts startup.
The investment comes as the company ramps up its efforts to bring new car parts to market, including the company’s new line of car parts called Lexus Parts.
The deal includes Lexus cars, as well as its flagship Lexus RX500, which is sold in more than 50 countries and is the only RX500 in the world that is made in the U.S. The company plans to bring a range of other new car components to the U, including new powertrains, transmissions and suspension components.
Lexus also plans to invest in its own engineering and production team in Detroit, as it expands its automotive research and development capabilities.
The new investment is part of a broader $1.4 billion investment in Lexus by SoftBank and other partners.
SoftBank, which owns the Boston Red Sox, Boston Bruins and the New York Yankees, is one of the largest investors in the company.
The firm plans to use the $1 billion investment to expand its robotics research and technology efforts.