Bob Carter, the company's senior vice president of automotive operations, delivered the news on Monday at CES, following an elaborate presentation that touted the strengths of its fuel cell vehicle, the Toyota Mirai.

There was a collective gasp from the audience after Carter's announcement, likely because the decision could help jump-start this area of the automotive industry, which is exactly what Toyota is counting on.

"By eliminating traditional corporate boundaries, we can speed the development of new technologies, and move into the future of mobility more quickly, effectively and economically," Carter said.

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