SoftBank and Toyota need to change the world of transportation by autonomous autos and different applied sciences.
The high-profile Japanese firms are forming a three way partnership known as Monet to develop companies that can use driverless-car expertise to supply new companies, corresponding to cellular comfort shops and supply autos wherein meals is ready en route.
SoftBank (SFTBF) will personal simply over half of Monet, whereas Toyota (TM) will maintain the remainder.
The brand new firm’s identify is not a reference to Claude Monet, the well-known French painter, however moderately a shortened model of the phrases “mobility community.”
Toyota President Akio Toyoda and SoftBank CEO Masayoshi Son attended the announcement of the venture Thursday in Tokyo, a uncommon joint look by the heads of two of Japan’s greatest international firms.
Toyota first approached SoftBank with the concept of making a Japanese alliance to…
