Business / Corporate

Five Japanese automakers to join Toyota-SoftBank self-driving venture

Kyodo, JIJI

Five Japanese automakers will join a self-driving technology joint venture formed last year by Toyota Motor Corp. and SoftBank Corp., sources close to the matter said Wednesday.

Mazda Motor Corp., Suzuki Motor Corp., Subaru Corp., Isuzu Motor Ltd., and Toyota’s minivehicle-making unit Daihatsu Motor Corp. will each buy a stake of less than 10 percent in Monet Technologies Inc., they said.

Currently, SoftBank owns 40.2 percent of the joint company, with Toyota holding a 39.8 percent stake. Honda Motor Corp. and Toyota’s truck-making subsidiary Hino Motor Ltd. already have a 10 percent stake each in the venture.

Monet is developing next-generation mobility services using autonomous driving technology. It plans to conduct test runs in cooperation with municipalities nationwide.

The company aims to realize efficient vehicle operations by analyzing data on traffic situations and driving routes captured during the tests.

Meanwhile, the alliance of Nissan Motor Co., Mitsubishi Motors Corp. and France’s Renault SA has agreed to team up with tech giant Alphabet Inc.’s self-driving technology company Waymo LLC.

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