TOYOTA motor (7203.T) and Softbank group (9984.T) said they will work together to develop new transport services. Previously, a large number of enterprises have cooperated in the hope of sharing the cost and mastering the expertise in the development of technology that can make a drastic change in the way people use cars.
The cooperation between Japan's largest automobile and technology companies shows that even the largest and most well-funded companies are worried about falling behind in the race to develop automobiles and interconnected vehicles.
Toyota and Softbank said in a statement that they would form a new joint venture called MONET with a start-up fund of 2 billion yen ($17.5 million). Softbank will hold 50.25% of the joint venture, and TOYOTA will hold the remaining equity. MONET is the abbreviation of Mobility Network.
There is no major mobile technology partnership between the two companies, but they are developing technologies for automated driving, carpooling and other services.
The two partners invest and cooperate in Uber, Grab and dripping.

<>TOYOTA and Softbank will form joint ventures to cooperate in automotive technolo

 

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