SoftBank & Toyota: Driverless Car Vision
- two of Japan's biggest companies, SoftBank and Toyota, are collaborating to develop new transportation technologies.The joint venture, named Monet, will focus on using driverless car technology to create...
- The companies envision services such as mobile convenience stores and delivery vehicles equipped for on-the-go food preparation.
- Toyota President Akio Toyoda and SoftBank CEO Masayoshi Son announced the project in tokyo.
SoftBank and Toyota are revolutionizing transportation! Their joint venture,Monet,is set to deploy autonomous vehicles to transform services for japan’s aging population. This strategic alliance aims to create mobile convenience stores and on-the-go food services using driverless technology. With softbank’s tech prowess and Toyota’s vehicle manufacturing expertise, Monet is poised to overcome challenges thru self-driving buses and medical shuttles. This partnership signals a major shift in the autonomous driving tech space, directly competing with industry giants. News Directory 3 reported on the innovative collaboration. Discover what’s next as Monet expands globally!
SoftBank and Toyota Join Forces on Autonomous Vehicle Services
Updated October 4, 2018
two of Japan’s biggest companies, SoftBank and Toyota, are collaborating to develop new transportation technologies.The joint venture, named Monet, will focus on using driverless car technology to create innovative services.
The companies envision services such as mobile convenience stores and delivery vehicles equipped for on-the-go food preparation. SoftBank will own slightly more then half of Monet, with toyota holding the remaining stake.
Toyota President Akio Toyoda and SoftBank CEO Masayoshi Son announced the project in tokyo. The name Monet is derived from “mobility network,” not the French painter.
Toyota initially approached SoftBank to create an alliance to compete with global rivals in the autonomous driving tech space. Companies like Alphabet and Baidu are investing heavily in self-driving vehicles, which could transform both the auto industry and ride-hailing services.
Monet aims to leverage SoftBank’s tech and data expertise with Toyota’s vehicle manufacturing capabilities. A key goal is to address issues stemming from Japan’s aging population and shrinking workforce through autonomous vehicles and other technologies.
the venture plans to introduce services like self-driving buses for elderly transportation, hospital shuttles with onboard medical exam capabilities, and mobile offices. The initial focus will be on Japan, with plans for global expansion.
SoftBank’s Vision Fund previously invested $2.3 billion in General Motors’ self-driving car unit, GM Cruise. Honda also announced a $2.8 billion investment in GM Cruise.
Toyota established a company dedicated to self-driving vehicle research and progress with a $2.8 billion investment. Both SoftBank and Toyota have invested in ride-hailing startups like Uber and Didi Chuxing.
The SoftBank-Toyota venture highlights the evolving relationships between automakers and tech companies. Son recalled approaching Toyota two decades ago with an internet proposal, which was declined. Now, Toyota is seeking SoftBank’s collaboration in the realm of autonomous vehicles.
Back then, Son said, SoftBank was a small company reaching out to the “giant rock” of Toyota. Today, it’s the carmaker that’s asking him for help.
What’s next
monet plans to roll out it’s autonomous vehicle services in Japan over the next decade, with a focus on addressing the needs of an aging society and exploring opportunities for global expansion in the autonomous vehicle market.