The companies didn't announce any timelines, but Toyota could be setting the stage for future vehicle announcements, be it EVs or gas-powered cars.

Toyota Motor and Alphabet's Waymo said on Wednesday they will explore collaborating on the development of a new autonomous vehicle platform and ways to enhance next-generation personally owned vehicles (POVs).

Toyota will test Waymo in a city it built near Mount Fuji. The "Woven City" is complete with streets and housing to prove Waymo's artificial intelligence.