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The Japanese automaker Honda Motor is partnering with two other industry giants to develop automated transportation services.
Toyota and SoftBank founded Monet Technologies last year.
Thursday, Monet announced that Honda would acquire more than 9% of its shares. Truck manufacturer Hino Motors, a subsidiary of Toyota, will take an equal stake.
Monet plans to partner with about 100 local governments over the next three years. The goal is to launch a mobility service as early as 2023 with fully autonomous electric vehicles developed by Toyota.
Honda will participate in the testing process, allowing Monet to use the company's vehicle data.
At the announcement of the joint venture plan, Toyota and Softbank said they wanted to improve mobility services through the use of data and artificial intelligence.
The company also aims to build autonomous cars capable of everything from car pooling to meal deliveries and shuttle services between the hospital and hospitals.
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