Tags: APFN | AS | Japan | Mobility Service

Japan's Honda, Hino Join SoftBank-Toyota Mobility Venture

Thursday, 28 March 2019 12:38 AM

TOKYO (AP) — Japanese automakers Honda and Hino are joining a partnership between SoftBank and Toyota for mobility service innovation such as self-driving cars.

Japanese technology company SoftBank Corp. and Toyota Motor Corp., the nation's top automaker, announced late last year a joint venture for mobility services, in what they called a "united Japan" effort to face global competition.

Honda Motor Co., Toyota's rival, and Hino Motors, Toyota's truck division, said Thursday each company will acquire a 9.9 percent stake in the 2 billion yen ($20 million) Toyota-SoftBank venture Monet Technologies Corp.

Each company invests $250 million yen ($2.3 million), according to the companies.

Toyota and SoftBank also announced Thursday a Monet Consortium, which includes partnerships with 88 other companies, including Coca-Cola Bottlers Japan and East Japan Railway Co. to enhance mobility services.

© Copyright 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


   
1Like our page
2Share
GlobalTalk
Japanese automakers Honda and Hino are joining a partnership between SoftBank and Toyota for mobility service innovation such as self-driving cars.Japanese technology company SoftBank Corp. and Toyota Motor Corp., the nation's top automaker, announced late last year a joint...
APFN,AS,Japan,Mobility Service
132
2019-38-28
Thursday, 28 March 2019 12:38 AM
Newsmax Media, Inc.
 
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved