Toyota and SoftBank have big plans on driverless cars

September 21, 2018 - By Justin Balkhi

Both companies believe that the future belongs to driverless cars. And they are ready to work hard to see changes in the transportation system.

Their main goal is to make smart autonomous vehicles with as much AI technologies as possible to change the history of the transport system.

Big tech companies from Japan, the country also well-known for its upgraded robots, decided to create a joint venture, Monet. It will create businesses that will be able to use the technology of driverless cars offering new services like delivery, convenience mobile stores, food trucks, etc.

SoftBank offers a little bit over a half of Monet Company, and Toyota owns the rest.

If you think that the name of the new company must be the reference to a famous painter impressionist from France, you are wrong. The name is a simple combination of two words mobility and network.

On Thursday, both companies met to announce the start of their common project in Tokyo. There was CEO of Softbank Masayoshi Son, and Akio Toyoda, the president of Toyota Company. Journalists noticed the rare appearance of two leaders of these big companies, represented across the world.

According to analysts, it is the latest bet of Softbank on the autonomous driving vehicles.

Earlier this year, its Vision Fund of 100 billion dollars worse, gave 2.3 billion dollars to the development of GM Cruise, a self-driving car from General Motors. It looks like a good investment for now, since recently Honda, another big name in the auto market, announced their decision to invest 3 billion dollars into the same car project.

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