@Susan Rambo there are some software standards from MISRA. Toyota did use these. However they are not formal methods based and wouldn't pick up things like unprotected variables that I believe Michael Barr wrote about
As we unveil EE Times’ 2015 Silicon 60 list, journalist & Silicon 60 researcher Peter Clarke hosts a conversation on startups in the electronics industry. Panelists Dan Armbrust (investment firm Silicon Catalyst), Andrew Kau (venture capital firm Walden International), and Stan Boland (successful serial entrepreneur, former CEO of Neul, Icera) join in the live debate.