Waymo and Toyota have agreed to explore a possible deal that could one day lead to a new vehicle designed for ride-hailing and even bring self-driving

Toyota Motor Corp. and Alphabet Inc.’s Waymo will explore collaboration on autonomous-driving technology, a potential boost to the Japanese carmaker’s efforts to catch up to the cutting-edge systems offered by major rivals.

Waymo and Toyota have announced a new partnership that could bring autonomous driving technology into privately owned vehicles.The collaboration looks to combine Waymo’s advanced self-driving systems with Toyota’s manufacturing expertise to accelerate the development of driver-assist and autonomous features for personal use.