Toyota and SoftBank are forming a joint venture to offer services using autonomous vehicles, in a sign both are making significant bets on the technology.
T oyota and SoftBank are forming a joint venture to offer services using autonomous vehicles, in a sign both are making significant bets on the technology.
The business, which will be called Monet Technologies Corp, will start with 2bn yen (£13.5m) in capital. It will initially be focusing on the Japanese market, offering ride-hailing services for public agencies and private companies, before looking to go global.
SoftBank said the company could eventually perform a whole host of «just in time» services, such as preparing food in transit as it is being delivered, combining its platform for the internet of things with Toyota’s connected vehicle technology.
Monet will not develop its own autonomous vehicles, instead looking at the services that such vehicles can provide.
SoftBank founder Masayoshi Son said the mobility company was «just the first step».
«There will be a second and third and I hope that the connection will deepen going forward,» he said.
