Aya Lin · · 1 min read5 automakers to back SoftBank-Toyota self-driving venture
- Japanese automakers Suzuki Motor Corp., Mazda Motor Corp., Subaru Corp., Isuzu Motors Ltd., and Daihatsu, the compact car unit of Toyota Motor Corp., said they will each invest about US$530,620 in Monet, a self-driving car service joint venture set up by SoftBank Corp. and Toyota late last year, Reuters reported.
- In return for their investment, the automakers will each receive a 2% stake in the joint venture.
- SoftBank and Toyota currently each have a 35% stake in the company, with Honda and Hino, Toyota’s truck-making operations, each owning a 10% stake.
Editing by Charmaine de Lazo
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