Toyota, SoftBank tie up in developing driverless car services

Toyota, SoftBank tie up in developing driverless car services (1ﾚｽ)
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1: 2018/10/05(Fri)03:21 AAS
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Toyota Motor Corp. and SoftBank Corp. said Thursday they have tied up to develop services using self-driving vehicles and other advanced automotive technologies, the latest example of a carmaker joining hands with an IT firm in the fast-evolving auto industry.

In the first alliance between Japan's auto and technology giants, they will set up a joint venture by next March that will aim to offer services such as meal deliveries and hospital shuttles using autonomous vehicles.

SoftBank will own a 50.25 percent stake and Toyota a 49.75 percent stake in the venture named Monet Technologies Corp., which will be capitalized initially at 2 billion yen ($17.5 million), increasing to 10 billion yen in the future, they said.

As a first step, the entity, to be led by SoftBank Chief Technology Officer Junichi Miyakawa, will launch a ride-hailing service in the next fiscal year starting April for local municipalities and firms in Japan. Its services will be expanded overseas in the future.
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