• Toyota Motor Corp's (NYSE: TM) leasing unit KINTO will offer software updates for safety on its new car, Prius.

• Through the program, the customers will be required to choose a service, slashing the monthly lease payments by 10%, Reuters reported.

• Through this initiative, Toyota plans to cut lease prices and conserve used-car values in Japan.

• The program will be the automaker's first attempt to update its safety features, including the collision avoidance system, for a car on the road.

• Also Read: Toyota Unveils Fifth-Generation Prius In Japan

• Toyota, in a way, is trying to emulate Tesla, Inc's (NASDAQ: TSLA) model, whose consistent software updates have improved charging speed and boosted battery range.

• Price Action: TM shares are trading higher by 0.29% at $141.50 in premarket on the last check Wednesday.

• Photo Via Company

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