Honda Motor and Japanese truck maker Hino Motors to join SoftBank and Toyota's self-driving car service venture
Junichi Miyakawa, CEO of Monet Technologies Inc., a joint venture of SoftBank Group Corp and Toyota Motor Corp on self-driving technologies, and Toyota Motor Corporation President and CEO Akio Toyoda attend a news conference in Tokyo, Japan March 28, 2019. REUTERS/Issei Kato
Under an agreement, Honda and Hino, in which Toyota owns a majority stake, would each invest around 250 million yen in the joint venture, Monet Technologies, and take 10 percent stakes in the venture, Monet said. Monet plans to roll out a platform to operate self-driving vehicles in the later half of the 2020s based on Toyota’s “e-palette”, a boxy multi-purpose vehicle which can be used for on-demand mobile shops, offices and other services.
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