SoftBank, Toyota's Self-driving Car Venture to Add Five Additional Automakers: Sources
【Summary】The self-driving car joint venture of SoftBank Corp and Toyota Motor will receive investment from an additional five Japanese automakers, two sources familiar with the matter said, broadening backing for the all-Japan effort.
TOKYO (Reuters) - The self-driving car joint venture of SoftBank Corp and Toyota Motor will receive investment from an additional five Japanese automakers, two sources familiar with the matter said, broadening backing for the all-Japan effort.
Mazda Motor Corp, Suzuki Motor Corp, Subaru Corp, Isuzu Motors and Toyota unit Daihatsu will each take a stake of a few percent in the venture, the sources said.
With the move to autonomous driving and electric vehicles creating ructions across the industry and spawning once unlikely partnerships, the venture, Monet, which is developing an on-demand self-driving service platform, hopes to help Japan's auto industry ride the shift.
Monet, announced in October, added investment from Honda Motor Co and Toyota's truck making subsidiary Hino Motors in March, leaving SoftBank Corp the largest shareholder with a 40.2% share and Toyota owning 39.8%.
When Honda and Hino joined in March, the total investment in Monet was 2.5 billion yen ($23.20 million). It was not immediately clear how much the five new partners are investing in the venture.
Monet declined to comment on the investment, which was first reported by Nikkei. Mazda, Suzuki, Subaru, Isuzu and Daihatsu also declined to comment.
The venture's head told Reuters earlier this month it was planning to expand its investor base. Monet hopes to export a basic version of the service to Southeast Asia in 2020 and aims to roll out on-demand bus and car services in Japan in the next year.
resource from: Reuters
Tesla Model 3's Built in China Will Be Eligible for New Energy Vehicle Subsidies
Italian Truck Maker Iveco Unveils the ‘Nikola TRE’, an Electric Truck Built in a Joint Venture with Nikola Motor
A Look at the Asian Companies Looking to Dominate the Global EV Battery Market
VW’s Audi to Cut 10% of its Workforce to Fund Shift Towards Electric Vehicles
Hyundai Shows Off a Redesigned Electric IONIQ at the Los Angeles Auto Show
Lidar Startup Ouster Introduces a More Affordable 32-Channel Lidar Sensor for Self-driving Cars
China’s BYD Receives Order for 130 Electric Buses, its Biggest Order to Date in the U.S.
BMW Announces its Next-Gen Digital Key Technology
- General Motors Recalls 3.46 Million Vehicles in North America for Brake Problem
- Uber Sells $1.2 Billion in Junk Bonds to Help Fund its Acquisition of Dubai-based Careem
- China’s BYD Receives Order for 130 Electric Buses, its Biggest Order to Date in the U.S.
- MIT Study Finds EVs to Cost More Than Regular Cars Until 2030
- Hyundai Shows Off a Redesigned Electric IONIQ at the Los Angeles Auto Show
- Elon Musk Confirms Higher Capacity Battery Packs for the Tesla Model S/X Plaid Variants
- Toyota Plans to Offer Level 4 Autonomous Rides Next Summer
- Electric Vehicle Maker Workhorse to Unveil its Next-Gen Electric Delivery Van
- Uber, Distracted Driver Cited for Fatal Crash in Arizona Claims NTSB
- EV Startup NIO to Partner with Intel’s Mobileye on Self-Driving Cars