10 Sep
2019

Mazda and Subaru hop on Toyotas selfdriving joint venture with SoftBank

first_img Post a comment 3:28 2019 Subaru Ascent review Enlarge ImageMonet Technologies’ first autonomous mobility contraption will likely be based on Toyota wild e-Palette concept.  Antuan Goodwin/Roadshow Last October, Toyota and SoftBank announced the creation of a joint venture called Monet Technologies, which seeks to mix big data and self-driving cars in an effort to create a whole little mobility ecosystem. Now Monet’s ranks are expanding in a big way.Five other Japanese automakers are hopping into Monet Technologies with Toyota and SoftBank, Reuters reports. The group comprises Daihatsu, Isuzu, Mazda, Subaru and Suzuki. Each company will invest approximately 57 million yen (about $530,000) into the company, and in return, each automaker will receive a 2% stake in the company. SoftBank and Toyota both have 35% stakes, according to Reuters.If you’re wondering where the other 20% stake is, it’s split between two other Japanese OEMs. Honda and Hino, a Toyota subsidiary for trucks, both announced the purchase of 10% stakes back in March. The two companies paid about $2.27 million each for those slices of Monet Technologies.The goal of Monet is to build a self-driving car for use in various mobility enterprises, but the focus is on providing a vehicle for a ride-hailing venture that could go up against industry stalwarts like Didi Chuxing, Lyft and Uber. It’s believed that Monet will use a vehicle similar to the e-Palette concept Toyota showed off at CES 2018.The company will start its efforts in Japan, but it hopes to expand to other countries in the mid-2020s. Some of the companies involved have a past history already, especially when it comes to Toyota — Mazda, Subaru and Suzuki all have research and development agreements with the automaker. Subaru, for example, will co-develop a new EV platform with Toyota, while Mazda and Toyota are teaming up to built a joint-venture plant in the US. More From Roadshow Mazda Subaru Toyota 2019 Mazda CX-5 Diesel review: Was it really worth the wait? Autonomous Vehicles Car Industry Mazda SoftBank Subaru Toyota 22 Photos Toyota e-Palette is its vision for a multifunctional… Toyota e-Palette concept debuts at CES 2018 Tags 2019 Mazda CX-9 review: Losing its edge? Now playing: Watch this: Share your voice 0last_img

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