Toyota and Softbank Unveil Agreement, Autonomous Vehicle Services for Eyes

LAS VEGAS, NV – JANUARY 08: Akio Toyoda, president of Toyota Motor Corp., voicing in front of the e-Palette Concept Vehicle, a fully autonomous battery powered vehicle with an open control interface allowing partner companies to install their own automated driving system, at a press conference held for CES 2018 at the Mandalay Bay Convention Center on January 8, 2018 in Las Vegas, Nevada. CES, the world's largest annual consumer technology fair, will take place from January 9 to 12 and will bring together some 3,900 exhibitors presenting their latest products and services to more than 170,000 visitors. Alex Wong / Getty Images / AFP

The Japanese automotive giant Toyota and the conglomerate Softbank, Softbank, announced on Thursday that they would create a joint venture to provide "new mobility services", including autonomous vehicles for services such as the meal delivery.

The new company will call "Monet" – abbreviated "mobility network" – and will be owned 50.25% by Softbank, the rest being owned by Toyota.

Monet would be created in April 2019 and would have an initial capital injection of 2.0 billion yen ($ 17.5 million), eventually reaching 10 billion yen, said the new company's general manager, Junichi Miyakawa.

By the second half of the next decade, the new company will deploy stand-alone services using Toyota's battery electric vehicles.

"Opportunities include demand-driven" just in time "mobility services, such as meal delivery vehicles where food is prepared on the move, hospital shuttles where on-board medical examinations can be performed, mobile offices "said the two companies in a statement.

Toyota President Akio Toyoda has pledged to turn the auto giant from an automaker into a mobility company to face what he called a "unique challenge in a century" for a sector in "profound mutation".

Under the leadership of Masayoshi Son, CEO of tycoon, SoftBank, which began as a software company, has increasingly been seen as an investment firm, investing in a wide range of companies and projects outside of its core business. core business.

In recent years, it has entered into agreements with companies such as the French robotics company Aldebaran and the Chinese online trading giant Alibaba.

"Softbank alone and Toyota alone can not do everything, so we should perhaps team up," said Miyakawa.

He admitted that his rivals in the US, China and Europe were "more advanced", but stressed: "We are not giving in. We believe we can catch up." / Muf

Read more

Do not miss the latest news and information.

For comments, complaints or inquiries, contact us.