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
Electric Scooter Sharing Startup Lime Now Knows if You’re Riding on the Sidewalk
Uber is Bringing its Self-Driving Cars to Washington D.C., with Humans Behind the Wheel
Tesla Overtakes Volkswagen as the World’s Second Most Valuable Automaker
Fiat Chrysler & Foxconn Plan an Electric Vehicle Joint Venture in China
Tesla Plans to Open a Design Center in China, Sends Out a Recruitment Notice on Social Media
Tesla’s Latest Stock Surge Raises its Market Value Higher Than Rivals GM & Ford Combined
GM to Revive the Hummer Nameplate as an Electric Pickup & SUV Brand, Sources Say
Uber Announces Partnership with Hyundai Motor Group on Urban Air Mobility
- Trump Administration Looks to Solidify Rollback of Fuel Economy Regulations
- Velodyne Announces its New Compact Velabit Lidar Sensor for Autonomous Applications
- Hyundai Launches ‘BotRide’ Autonomous SUVs in California with Pony.ai & Via
- Researchers Are Using Model Cars to Perfect Autonomous Vehicles
- Uber Reports $1.2 Billion Loss in Q3, CEO Says the Company Will Be Profitable by 2021
- Tesla is Without the Federal EV Tax Credit for the First Time Since the Introduction of the Model S in 2012
- GM President Mark Reuss Believes These Three Things Are Holding EVs Back
- Honda Augmented Driving Concept Looks to Reinvent the Steering Wheel
- Uber, Distracted Driver Cited for Fatal Crash in Arizona Claims NTSB
- Didi Chuxing to Trial Luxury Ride-Hailing Service with Tesla & Mercedes Benz Vehicles