Five Autmakeres to Join Toyota-Softbank Self-Driving Venture

Five Japanese automakers will join a self-driving technology joint venture formed last year by Softbank Corp. and Toyota Motor Corp., sources privy to the matter revealed Wednesday.

Subaru Corp., Suzuki Motor Corp., Mazda Motor Corp., Isuzu Motor Ltd., and Toyota mini-vehicle making unit Daihatsu Motor Corp. will each buy a stake of less than 10 percent in Monet Technologies Inc., they said.

Currently, Toyota owns 39.8 percent of the joint company, with Softbank holding a 39.8 percent stake. Honda Motor Company and Hino Motor Ltd. already have a 10 percent stake each in the venture.

Monet Technologies is working on next-generation mobility services using self-driving technologies. It plans to conduct test runs in cooperation with municipalities nationwide.