Toyota Aims to Open Its Futuristic City in Japan This Year (2)

Toyota Motor Corp. plans to move in the first 100 residents of a futuristic city at the base of Mount Fuji in Japan by as soon as this fall, but declined to specify how much the ambitious project is costing the company.

The initial residents of Woven City will be composed mostly of the carmaker’s own employees and their families, and will gradually expand to about 2,000 residents as part of its initial phases, Toyota said Monday.

“This year, residents will begin to moving in as we slowly bring Woven City to life,” Toyota Chairman Akio Toyoda said at a ...