Suzuki, Subaru, Mazda are among the latest automakers to join self-driving venture by Toyota

07/03/2019

Posted by: Oluwaseun Adeniji

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The partnership is getting stronger and the future of autonomous vehicles is brighter than ever. Click here to see what these new additions mean to self-driving future in Japan!

According to report from Reuters, more automakers have joined the automotive self-driving venture between Toyota and SoftBank Corp.

Suzuki, Mazda, Isuzu, Daihatsu and Subaru according to sources, will take a stake of 2 percent each in the venture dubbed “Monet”. For now, none of the manufacturers is coming out to comment on this new development.

image-of-toyota-autonomous

The Monet idea of autonomous vehicles will be based on the company's e-Palette concept

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The “Monet”, introduced in October 2018, is making a platform for on-demand self-driving, which got investment from Hino Motors and Honda in March, gathering up to $23 million as total investment. We are yet to know the financial commitment of the five new partners to the venture, but there is a report of 35 percent each owned by SoftBank and Toyota. Honda and Hino on the other hand have ten percent each as their investment stake.

image-of-e-palette-concept

Other top Japanese car makers are now investing in Monet despite Toyota's and SoftBank's major stake

Monet’s objective is to promote production of autonomous vehicles among the Japanese car manufacturers. This is evident as Monet earlier this month, disclosed the intention of the venture for the year 2020's launch of the basic version of its service in Southeast Asia. By next year, it will be introducing car services and on-demand bus next year in Japan.

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Toyota e-Palette Concept

Admittedly, future self-driving vehicles will be the nucleus of the Monet service and such will revolve around e-palette concept car of the company, introduced early 2018 at CES. The idea behind the concept’s design is to be utilized for multiple services, such as transportation means for delivery vehicle and ride-share users.

>>> Latest updates in the auto industry and hottest auto release always available on Naijauto.com!

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Oluwaseun Adeniji

Oluwaseun Adeniji

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Oluwaseun Adeniji is a passionate writer and a poet with special interest in writing about cars. He is a master degree holder in international conflict and management. He enjoys feeding the public with the latest auto gist and well researched car reviews. He is also a strong football lover. So, if Oluwaseun is not writing, expect him to be reading about sports.

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